Nokia's fourth quarter net income missed analyst expectations, falling from 1.84 billion Euros in the year-earlier period to 576 million Euros.
Nokia reported revenues of 12.2B euros and a net income fell 30% y-o-y. Nokia's disappointing results were largely attributable to the very difficult market conditions. Nokia finalized its deal with Qualcomm as Nokia will pay $2.3B to Qualcomm and will enter into a 15 year agreement to use Qualcomm's intellectual property.
Nokia has released its first touchscreen smartphone, the 5800 Xpressmusic. The phone will be price around $400 and will feature GPS, flash ability for the internet, and bundled in the price is Nokia's Comes With Music service. This service allows free music downloads for a year. Nokia is offering the phone in 60 different languages, which encompasses 90% of the world's population.
Nokia bought a $410M stake in Symbian, a mobile operating system. Nokia plans to offer Symbian free of charge. Symbian is the most widely used operating system for smartphones, and Ben Wood, a research director from CSS Insight, says it is unlikely Nokia would open source Symbian if it didn't have a new operating system on its way. However, only Asia, the Middle East, Spain and Russia will be able to purchase this phone before 2009.
Nokia's share tumbled as it lowered its mobile handset market share outlook for Q3. Nokia lowered its outlook due to aggressive pricing from rivals like Samsung, production delays in their mid tier phones, and an overall weaker consumer market.
Nokia's revenue grew 4% y-o-y and sold 122M phones, up 21% y-o-y. Mobile devices were up 73.1% y-o-y in North America, but China fell 16.2%. Nokia also had a positive outlook for the rest of the year.
Apple's new 3G iPhone sold 1 million units in just 3 days, making it one the largest consumer eletronic launches in history.
Nokia signed a deal with Warner Music Group which will allow Nokia's customers to listen and download Warners music to their cellphones. Nokia now has deals with the three largest music labels (also has deals with Sony BMG and Universal Music Group).
Nokia will release the E66 and E71 business phones in July and will retail for around $540. The E66 features a sliding design and the E71 has a full keyboard.
Qualcomm and Nokia have been entangled in patent issues for years
pertaining to the royalty rate that Nokia should pay for use of Qualcomm patented technology. As of now, Nokia is payout out a 5%, or half a billion dollar royalty rate which could possibly
increase in the future.
Nokia Posts Q4 2007 Earnings.
They don't know how to sell phones.
Nokia, the world’s largest maker of cellphones, said today that profit surged 85 percent in the third quarter as strong demand for low-cost phones in Africa, the Middle East and Asia lifted its share of the global market to almost 40 percent.
Nokia to buy Navteq for $8.1 billion
Despite poor performance by its Siemen's Networks, Nokia reports its highest operating margins in 3 years
Nokia announced higher-than-expected operating margins, and a higher market share of 36%. Nokia also announced its net income had fallen, but not as far as analysts expected.
Nokia and Siemens AG (SI) announced a joint venture to begin April 1st 2007.
Strikes at two factories in Finland disrupted business.