Nokia writedowns wipe out profits 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 …
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.
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!
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