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Dresdner Kleinwort says a 200
basis point cut of Nokia’s (NOK) 17% operating margin target is
warranted. Says "the sliding trend (in operating margin), compounded by
startup costs and consolidation of Siemens’ (SI) networks, suggests a
more tempered tone" at Nokia’s analyst meeting in Amsterdam on November
28, than when the target was set in 04. Says "that the margin expansion
plan is misfiring was detected already last year, which saw a further
diminution (90bps) to 13.6%." Keeps at sell with EUR10.80 target.
Trades -0.5% at SEK15.44.(MAK)Source: NewsRatings
This is something that usually happens after a merger of such a massive scale, hope this doesn’t hurt bottom lines since I would like to see Nokia invest in R&D as well as User Experience to maintain market dominance.
About The Author
Stefan Constantinescu
Stefan Constantinescu (@WhatTheBit on Twitter) has loved technology since as far back as he can remember. It started with computers, but in the past few years his passion has turned to mobile devices. As a mobile phone enthusiast who lives and breathes devices that connect to the internet, he knows he is not alone with this radical fascination of all things wireless. He is strongly opinionated and enjoys a good debate so leave comments in his posts and he’ll get back to you! Stefan began blogging as a hobby in the fall of 2006 and joined IntoMobile in the summer of 2007. Later he got a job at Nokia in March 2008, but as of June 2009 he has rejoined the IntoMobile team. He is currently based out of Helsinki, Finland.
