| Nokia collapses in China |
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Nokia's report is worse than expected. Really sad, it looks in China, where the number of phones sold collapse by 35 percent. The Finns continued to lose in the advanced mobile segment.
Both Nokia's sales and earnings for the fourth quarter of 2008 is worse than analysts' forecasts.
Company management also lowers its previous forecast of global sales of mobile phones in 2009. From minus 5 percent to minus 10 percent. World leader Nokia continues to lose market share. In the fourth quarter, management estimates that it had 37 percent of the market. An impressive figure in itself, but the proportion was as high as 40 percent a year ago, and 38 percent in the third quarter. At least bad was it in Latin America, where sales, in number of mobile phones, was about the same as a year ago. Worrying is the poor sales of Nokia's advanced mobile phones, the company choose to call "converged". The company estimates that this segment has grown, but the report itself of loss. Nokia sold only 15 million of the advanced mobile in the fourth quarter, and had a market share of 31 percent. Much better it was a year earlier, when Nokia's 18.8 environment to a share of 48 percent. Nokia's total sales stood at 12.7 billion. A reduction of almost 20 percent compared to the same quarter last year. Analysts' estimates stood at just over 13 billion, according to SME Direct forecast compilation. Operating profit was 492 million, and operating margin collapsed thus 3.9 percent, far below the expected 8.7 percent. Nokia sold 113 million mobile phones in the fourth quarter, which is 15 percent less than a year ago. Average price remained at 71 euros. Analysts had expected 118 million mobile phones with an average price of 72 euros. |
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| Last Updated ( Saturday, 14 February 2009 ) |
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