Nokia lost €426m before tax in Q3 this year, as writedowns, a deflating global economy and freefalling American sales all took their toll. That loss compares pretty badly to last year's pre-tax profit of more than €1.5bn. It comes on the back of 20 per cent drop in sales to $9.8bn. Margins on the sales it did make slipped by 3.1 …
I've not had a nokia handset for years, but i may return to the fold with the release of the n900 on the maemo platform
Bill, it's a "wise" move of you not to have mentioned the iPhone, Although we all know that this loss is partly attributed to iPhone's changing game to the mobile industry.
Not the iPhone
The loss is due the the Disasterous merger/takeover that is NSN. Nothing to do with Devices.
Mage - spot on. The NSN unit lost €1.1B, without that loss on the books the rest of Nokia would have made €674M profit.
N97 didn't help
That phone was billed as an 'iPhone killer'. In the end it was an embarrasment and amateurish.
The NSN writedown wasn't the only goodwill that Nokia lost, IMO.
yeah sure, YOU believe that won't you.
The real issue with US sales is that they are always late in getting the devices the consumer wants in the US. You will see the devices over in Europe a few months prior and then some of what they sell in the US won't even support the US 3G bands; or just some of them. Buy a phone from Europe and you get a two-year warranty; only one year in the US.
sinking, rats, ship??
Seems like that Wylie bloke (MyBestfriend's-Simon) has had his job outsourced to India. Or at least, a curry-guzzler with the instantly forgettable name of - er - google - Rajeev Suri. Now, tail firmly stuck between legs the wily coyote is slinking off the whole telecomms scene.
Looked S.B-W up on Forbes, €2m + salary, including increments and excrements.
Not bad for being the architect of a completely disastrous merger with part of Siemens, which almost didn't go through due to Siemens managers' bribes. The guy looks like a twat, talks like a twat, makes business decisions like a twat, therefore....he's a witch/duck/twat!! Whatever.
I knew when the merger was announced in June, 2006 that it was disastrous. Did they ask me? Did they fuc*k! I'm older than Simon or Mahatma Whats-his-face, and have been in telecomm a helluvalot longer.
Not surprised one of the parent companies (Nokia) wrote off the 'goodwill'. There aint any.
How to screw up a good, profitable company. Sheesh!