HELSINKI – Nokia Corp. signalled Thursday its smartphone partnership with Microsoft was starting to reap rewards as it revealed that fourth-quarter mobile phone sales exceeded expectations and that its handset business would return to profitability.The Finnish company’s share price surged 11 per cent to close at €3.32 on Helsinki Stock Exchange.Nokia said it sold 86 million devices in the last three months of 2012, including some 4.5 million Lumia smartphones, while revenues amounted to some €3.9 billion. A year earlier, it posted a fourth-quarter net loss of €1 billion with a 19-per cent plunge in revenue.The cellphone maker said it sold 15.9 million smartphones in the quarter, up from 6.3 million in the previous quarter.Nokia has been struggling in the fierce top-end race against Apple Inc. and Samsung and is now also losing ground to Asian makers in lower-end devices. Samsung overtook it as the world’s No. 1 cellphone maker early last year after Nokia led the field for 14 years. In 2011, Nokia announced that it would join forces with Microsoft to produce a smartphone that would run on Windows software. The latest Windows handset, the Lumia was launched last year.CEO Stephen Elop said he was pleased with the company’s “solid” fourth-quarter performance.“We are pleased that Q4 2012 was a solid quarter where we exceeded expectations and delivered underlying profitability,” he said. “We focused on our priorities and as a result we sold a total of 14 million Asha smartphones and Lumia smartphones while managing our costs efficiently, and Nokia Siemens Networks delivered yet another very good quarter.”The company said operating expenses in the last quarter of 2012 had been lower than expected and that its devices and services sector saw operating margins of “between break even and positive 2 per cent.” Elsewhere, its networks joint venture with Germany’s Siemens AG — Nokia Siemens Networks — had “record underlying profits and a third consecutive quarter of underlying profitability,” with operating margins expected to be 13-15 per cent.However, the company warned that seasonality and competition would have a negative impact on the handset division’s first-quarter profitability in comparison to the last three months of 2012. Nokia is due to report fourth-quarter earnings on Jan. 24. by Matti Huuhtanen, The Associated Press Posted Jan 10, 2013 1:51 pm MDT Nokia says Q4 mobile phone sales exceed expectations, sparking sharp share rise AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email
Daily Archives: October 4, 2019
Oil hovers below US$96 a barrel amid concerns over European, US economies by Pablo Gorondi, The Associated Press Posted Feb 18, 2013 8:55 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email The price of oil hovered below US$96 a barrel Monday, weighed down by data released late last week which showed that U.S. industrial production weakened and that Europe remained mired in recession.By early afternoon in Europe, benchmark West Texas Intermediate crude for March delivery was down 17 cents a US$95.69 a barrel in electronic trading on the New York Mercantile Exchange. The contract had fallen $1.45 on Friday.Trading volume was lower than usual as floor trading, like U.S. financial markets, was closed for the Presidents Day holiday.Investor sentiment has been subdued since the Federal Reserve said Friday that U.S. factory production slowed in January, mostly because of a big drop in output at auto factories.Most analysts think the slowdown is temporary, but it was enough to raise concern about the still-sluggish economic recovery.Traders were also concerned about a deepening recession across the economy of the 17 countries that use the euro. Their combined economic output shrank by 0.6 per cent in the final quarter of 2012 from the previous three-month period. The decline was bigger than the 0.4 per cent drop expected and the steepest fall since 2009.Brent crude, used to price many international varieties of oil, was down one cent at US$117.65 a barrel on the ICE Futures exchange in London.In other energy futures trading on the Nymex, heating oil fell 0.34 of a cent to US$3.2070 a U.S. gallon (3.79 litres), wholesale gasoline rose 0.47 of a cent to US$3.3185 a gallon and natural gas added 0.2 of a cent to $3.155 per 1,000 cubic feet.(TSX:ECA), (TSX:IMO), (TSX:SU), (TSX:HSE), (NYSE:BP), (NYSE:COP), (NYSE:XOM), (NYSE:CVX), (TSX:CNQ), (TSX:TLM), (TSX:COS.UN), (TSX:CVE)
AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email German Parliament approves $13 billion aid package for Cyprus by wide margin by The Associated Press Posted Apr 18, 2013 5:59 am MDT BERLIN – The German Parliament on Thursday approved a 10 billion euros ($13 billion) rescue package for Cyprus by a wide margin.Lawmakers voted 487-102 in favour of the bailout deal hammered out last month. Thirteen abstained.Cyprus will receive 10 billion euros in loans after its bloated banking sector threatened to destroy the economy.Germany, Europe’s biggest economy, insisted on making those holding large deposits in Cyprus’ biggest banks contribute to the rescue. That position was shared by the German opposition.All the rescue agreements involving euro countries need approval from the German Parliament.Although some in Chancellor Angela Merkel’s centre-right coalition are uneasy about bailouts, the main opposition parties so far have supported them.In separate votes Thursday, lawmakers approved by a similarly wide majority agreements to grant Ireland and Portugal seven years more years to pay their bailout loans — a move meant to ease the burden on their economies and pave the way for a quicker return to sustainable growth.