Printed Circuit Design & Fab Online Magazine

ENEPIG Corrosion Mechanisms
Different types of nickel corrosion and potential mitigation strategies.
READ MORE...
The Future is Thin, Flat and Flexible
What’s ahead for antennas, heaters and inks.
READ MORE...
Royalty Flush
A noted solutions architect offers an audacious plan for AI acceptance. It just might work.
READ MORE...
Rocking and Rolling at ZIW
The annual user event was tuned into AI, but that’s not the only melody being played.
READ MORE...
Can Thailand Pad its PCB Gains?
2023 saw only a handful of fabricators gain ground, but SE Asia is primed to boom.
READ MORE...

Printed Circuit Design & Fab Magazine

HELSINKI, FINLAND – Nokia Corp. has posted a 69% drop in profits for the fourth quarter, stemming from lost market shares and a lackluster demand for its phones during the holiday season.

Net profits fell to 576 million euros (US$751 million), compared to 1.84 billion euros (US$2.38 billion) in 2007. Sales fell 19% to 12.66 billion euros (US$16.39 billion), falling short of forecasts.

Fourth-quarter handset shipments dropped 15% to 113.1 million units, and handset sales fell 27%. The company saw its operating margin decline to 9.8%, compared to 16.7% in 2007.

As a result of its fourth-quarter figures, Nokia lowered its outlook for global industry mobile device volumes. It now expects to see a 10% drop in 2009, compared to an earlier forecast of 5%.

The market share for the fourth quarter was estimated at 37%, compared to 40% in 2007. Nokia reported significant loses in the Middle East, Africa, North America and China but expects to keep its market share at 37% for the first quarter.

The company also plans to cut approximately 1,000 jobs this year.

NOVEMBER ISSUE

View the Digital
Edition Here!

Nokia Q4 Sales Decline 19%

POPULAR

Press Releases