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Category: Market News
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.
 

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Category: Market News
SMYRNA, GA -- UP Media Group today announced a series of chats led by several well-known industry experts has been added to the technical conference program of its Virtual PCB Web-based trade show, the industry's only virtual trade show and conference for the PCB design, fabrication and assembly markets.

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