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Ow. Despite being king of the mobile hill, Nokia has taken a rough financial blow this quarter, reporting earnings per share were down to 0.03 Euros, a 90.3% drop from the same time last year and 80% drop since last quarter. The net sales themselves are down 24% since last year, while operating profit is down 96.4%. Nokia has had a slow, steady decline over the last couple of quarters, but this is easily the sharpest fall-off to date. Offering severence packages for voluntary lay-offs and taking R&D loans is just some of the fallout of such a situation, but maybe things will look rosier once their Mobile World Congress announcements come to fruition. For a closer look at the numbers, check out the full quarterly report here.
[via Engadget]
About The Author
Simon Sage
Simon Sage’s education largely surrounded writing, technology and online community, leading him to begin his blogging career at www.BlackBerryCool.com and to quickly discover a vibrant and active community surrounding BlackBerry and mobile technology. In exploring RIM’s platform, he has learned what enterprises are looking for in mobility as well as what makes the innocuous BlackBerry so appealing to them. Recently Simon’s been covering RIM’s gradual move into an already-crowded consumer market, and the impact of burgeoning challengers, such as the iPhone, as well as long-time leaders, like Nokia, on BlackBerry’s advancement. With plenty of content under his belt, Simon will be branching off a bit to see what other smartphone manufacturers are working on while still using BlackBerry as a barometer. At IntoMobile, you can count on his posts being even-handed, well-informed and thought-out.
