Feeds

Finland's other mobile phone maker needs more cash. Or else

Benefon teeters

  • alert
  • submit to reddit

Boost IT visibility and business value

Benefon, Finland's other mobile phone maker, is negotiating for an immediate cash injection of €20m. Its survival depends upon a "succesful financing solution".

If it gets the money, it intends to "re-direct the Company more into the provision of services and service solutions".

Benefon's announcement, published on its web site yesterday (Feb 11), has prompted the Helsinki Stock Exchange to place the company on its surveillance list.

Benefon makes specialist handsets for companies and service organisations. It describes itself as the "world's leading provider of GSM and GPS based mobile telematics instruments". Here is a product sheet.

But where are the customers? In its report for FY 2002, Benefon says:

The sales of GSM products Benefon Twin, Benefon Twin Dual SIM and Benefon Q as well as of the NMT 450 phone Benefon Exion were very low in the final quarter causing a significant drop of the total sales in the final quarter. Even though the down-ward trend of the NMT 450-market got stronger, the NMT 450 production is planned to be continued as long as there is reasonable demand.. ®

The Essential Guide to IT Transformation

More from The Register

next story
Scotland's BIG question: Will independence cost me my broadband?
They can take our lives, but they'll never take our SPECTRUM
Bring back error correction, say Danish 'net boffins
We don't need no steenkin' TCP/IP retransmission and the congestion it causes
Auntie remains MYSTIFIED by that weekend BBC iPlayer and website outage
Still doing 'forensics' on the caching layer – Beeb digi wonk
NBN Co adds apartments to FTTP rollout
Commercial trial locations to go live in September
Samsung Z Tizen OS mobe is post-phoned – this time for good?
Russian launch for Sammy's non-droid knocked back
Telstra to KILL 2G network by end of 2016
GSM now stands for Grave-Seeking-Mobile network
Seeking LTE expert to insert small cells into BT customers' places
Is this the first step to a FON-a-like 4G network?
What FTC lawsuit? T-Mobile US touts 10GB, $100 family-of-4 plan
Folks 'could use that money for more important things' says CEO Legere
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.