Mobile/PDA About Us Advertise here


		User name	Password

		Not registered yet? Register here. Lost your password? Click here.

Browse by topic

News

Nokia profits collapse 90 percent

16 April 2009 16:38 by Andre "DVDBack23" Yoskowitz | 3 comments

Nokia, the world's largest phone maker, has reported a 90 percent drop in its Q1 profits year-on-year, citing the ongoing global recession as the reason for falling demand.

For the quarter ended March 31st, profits were EUR 122 million compared to EUR 1.22 billion in the same quarter last year.

Nokia CEO Olli-Pekka Kallasvuo was optimistic however, adding that demand for mobile phones is stabilizing, after dropping drastically over the past 16 months.

"Regarding the health of the overall mobile device market, the inventory already in the sales channels decreased substantially during Q1 due to extensive destocking by operators and distributors. This adversely impacted our sales volumes in the quarter," noted Kallasvuo. "However, it has also resulted in the demand picture becoming more predictable as we enter the second quarter."

For the upcoming quarter, the company believes sales volume to pick up or at least remain the same, from 93.2 million units during the quarter.

Permalink to this article | Topic: Phones

Nokia Q2 profit drops 66 percent (16 July 2009)

Nokia's 'Comes With Music' performs badly in UK (22 April 2009)

Nokia sells mobile TV tech unit to Wipro (20 April 2009)

Nokia 5800 XpressMusic selling well (15 April 2009)

Bluetooth 3.0 details coming this month (10 April 2009)

Skype now officially available on iPhone (30 March 2009)

Nokia shuts down Mosh (19 March 2009)

iPhone 3G to be available without contract (19 March 2009)

« Previous news article
Consumer Watchdog says UK Copyright laws are the worst

Next news article »
Wii sales healthy in US - No Wii MotionPlus backwards compatibility planned

Post your comment

Discuss this article!
platdream (Newbie) 17 April 2009 4:22
wtf?? i bought a new n82 with my own money.. [ + quote]
avoidz (Junior Member) 17 April 2009 9:52
With AU$1000+ devices in the current economic climate, who'd have guessed... [ + quote]
adamryan (Member) 17 April 2009 9:57
i'm getting a n810 soon, i hope Nokia doesn't tank anytime soon. [ + quote]