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Nokia posts huge $1.7 billion Q1 loss; sales boss resigns as smartphone sales plummet 50%

Thursday, April 19th, 2012

Nokia warned that its first-quarter earnings would be weak, and the numbers are now in. Revenue declined 30% to €7.4 billion, or $9.7 billion USD last quarter, down from €10.4 billion, or $13.6 billion in the same quarter last year. The company posted a massive €1.3 billion loss, or $1.7 billion USD, which breaks down to a loss of €0.25 per share. Smartphone sales plummeted 52% to 1.7 billion units in the first quarter, and net device sales dropped 40% to 4.2 billion units. Read on for more.

“We are navigating through a significant company transition in an industry environment that continues to evolve and shift quickly,” Nokia CEO Stephen Elop said. “Over the last year we have made progress on our new strategy, but we have faced greater than expected competitive challenges. We have launched four Lumia devices ahead of schedule to encouraging awards and popular acclaim. The actual sales results have been mixed. We exceeded expectations in markets including the United States, but establishing momentum in certain markets including the UK has been more challenging.”

Nokia confirmed earlier this month that it sold 2 million Lumia Windows Phones in the first quarter, and it said on Wednesday that sales of its Lumia 900 smartphone at AT&T have been “encouraging” thus far. The Lumia 900 launched on April 8th, so sales are not reflected in Nokia’s first-quarter report.

The company confirmed in a separate statement that Colin Giles, executive vice president of sales, has resigned.

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Apple chooses Pegatron to make iPad 3, March shipments

Tuesday, January 10th, 2012

Pegatron Technology has reportedly received a small volume of orders for the upcoming iPad 3, which is set to launch in March, according to Digitimes. Apple has reportedly revamped the company’s outsourcing strategy and will have Pegatron focus on production of the iPad series, with Foxconn serving serving as an auxiliary in 2013. Foxconn‘s primary focus will be the iPhone, with Pegatron only producing a small number of smartphones. The new strategy is meant to decrease risk and increase the quality of products, according to the report. The Cupertino-based company has already visited Pegatron‘s plants in China several times. The publication also claimed that Pegatron is expected to see a “significant increase” in orders for an iPad 4 launch reportedly scheduled for October with an initial volume of 7-10 million units. However, last week John Gruber of Daring Fireball called the March launch of the iPad 3 “completely accurate,” but claimed an iPad 4 report was “completely made-up nonsense.”

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Samsung may exit netbook business in 2012

Tuesday, November 29th, 2011

Samsung is considering an exit from the low-margin netbook business as soon as next year according to a recent report. French CNET blog Blogeee claims to have obtained an email sent by the South Korea-based electronics giant to several of its partners. “Following the introduction of our new strategy in 2012, we stop the product range in 10.1” (Netbook) in Q1 2012 for the benefit of Ultraportables products (11.6 and 12 inches) and ultrabooks to be launched in 2012,” the email reportedly stated (machine-translated). The matter could be one of semantics, however — Samsung’s “ultraportable” class may include low-cost notebooks driven by inexpensive ATOM processors. Samsung did not immediately respond to a request for comment.

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Nokia shareholders and unions fight back against Microkia

Wednesday, February 16th, 2011

Nokia shareholders are not very happy right now with NOK taking a 25 percent hit since the announcement of the Microsoft marriage. Stephen Elop, Nokia’s first foreign-born CEO, is taking heat on multiple fronts even as he prostrates himself to the media in hopes of getting his message out. Already, we’ve heard numerous conspiracies calling Elop a “trojan horse,” sent by Steve Ballmer to sabotage Nokia from within. Conspiraloons are quick to point to records showing Elop holding a significant number of Microsoft shares — a situation that Elop says is temporary (and outdated) having having sold a majority of his Microsoft position with plans to sell off his remaining shares in favor of Nokia stock just as soon as he’s free to do so under regulatory moratoriums meant to prevent insider trading. Nevertheless, Nokia will be facing at least two very real showdowns on its near-term horizon.

First, will be a battle with the Finnish trade union Pro which is demanding €100,000 (in addition to severance payments) for every Nokia employee that loses their job under Elop’s new strategy — money the unions says will be used for reeducation. The union estimates that Nokia could cut as many as 25% (5,000 people) of Nokia’s 20,000 workers located in Finland. The second major hurdle facing Elop, and the board of directors that appointed him, will come on May 3rd at Nokia’s Annual General Meeting for shareholders. Already, a cabal of nine frustrated shareholders have been grabbing attention with its “Nokia Plan B” proposal to oust Stephen Elop and return Nokia to a MeeGo focus giving Symbian a five-year minimum reprieve. The group has since disbanded after its plan was rejected by institutional investors. Nevertheless, we don’t expect Symbian fans and developers to give up without a fight, and we expect Helsinki Fair Centre, Amfi Hall to be center-ring when the event kicks off on May 3rd in Helsinki.

Nokia shareholders and unions fight back against Microkia originally appeared on Engadget on Wed, 16 Feb 2011 05:02:00 EDT. Please see our terms for use of feeds.

Permalink   |  sourceNokia Plan B, Wall Street Journal  | Email this | Comments

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T-Mobile’s Rumored Project Dark: handsets and rapid network expansion? [UPDATED]

Friday, October 9th, 2009

tmo-project-black

There’s a lot of buzz surrounding T-Mobile secret project, “Project Dark” or “Project Black” as others have referred to it. One of our connects hit us up to clarify what it exactly is (they called it Project Dark).

So, what is it exactly? Other sites have speculated that it’s not a new phone or promotion, but our connects briefing has given us a pretty clear understanding. First off, it is tied somewhat to handsets. Project Dark contains the launch of the T-Mobile BlackBerry 9700 as well as T-Mobile’s upcoming Android handsets like the Motorola CLIQ and Samsung Behold II. It also contains a very, very rapid expansion of T-Mobile’s 3G network, and we don’t mean UMTS. We’re talking 21Mbps HSPA, the same as what just launched in the Philadelphia market. We’ll keep digging but this is what we’ve got for you for now.

UPDATE: A few minutes after we first posted this story, a new T-Mobile connect came out of nowhere and sent us in quite a lot of new information. We have to caution that this information is not substantiated, but we feel that we owe it to our readers to share. Here it goes…

Project Dark is a pretty big thing for T-Mobile. Not only will employees be wearing new threads consisting of a black top and grey pants while they sell the BlackBerry Bold 9700 and two Nokia Nseries devices (the N900 and something else), but they’ll also be pushing something pretty amazing — a $50 all you can eat plan that includes voice, SMS, MMS and data. Apparently this plan will be called “Everything Unlimited” and is meant to represent T-Mobile’s new strategy which will essentially see it try and poach subs from various low-cost carriers. We’ve also been told that T-Mobile will be adopting a very Walmart slogan of “More for Less.” Okay, we’ve done our part, now what do you people think about this?

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