Feeds

Nokia sales and profits dive in fourth quarter

Finnish giant feels the chill

Remote control for virtualized desktops

Nokia's fourth quarter results show the world's biggest phone manufacturer's operating profit dropping more than 50 per cent to €1.2bn.

Sales at the Finnish giant slipped 19.5 per cent to €12.7bn, as the firm dealt with a declining worldwide economy where getting a new phone is increasingly taking second place to finding a new job.

The firm's shareholders will feel some of the pain, with the board proposing cutting the dividend to €0.40 compared to €.43 last year.

The company reckons 2009 isn't going to be a good year, with an expected ten per cent decline in sales, most of which will come during the first half of the year. However, the company expects to retain its market share.

Nokia reckons the industry shipped 305m phones in the last three months of 2008, 113.1 million of which of were Nokia devices - reducing the Finnish giant's market share to 37 per cent of a total market that was down nine per cent on 2007 (pdf).

Figures aren't quite so grim for the whole of 2008, with net sales down by slightly less than one per cent to €50.7bn, and operating profit down 8 per cent to €1.2bn. But then the economy wasn't so grim early in 2008.

Operating cash flow for the final quarter of 2008 was hit by a one-off payment of €1.7bn to Qualcomm; settling the long-running licence dispute between the two companies but making overall flow negative by €0.3bn.®

Secure remote control for conventional and virtual desktops

More from The Register

next story
YOU are the threat: True confessions of real-life sysadmins
Who will save the systems from the men and women who save the systems from you?
Download alert: Nearly ALL top 100 Android, iOS paid apps hacked
Attack of the Clones? Yeah, but much, much scarier – report
Broadband sellers in the UK are UP TO no good, says Which?
Speedy network claims only apply to 10% of customers
Virgin Media struck dumb by NATIONWIDE packet loss balls-up
Turning it off and on again fixes glitch 12 HOURS LATER
Ofcom snatches 700MHz off digital telly, hands it to mobile data providers
Hungry mobe'n'slab-waving Blighty swallows spectrum
Fujitsu CTO: We'll be 3D-printing tech execs in 15 years
Fleshy techie disses network neutrality, helmet-less motorcyclists
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Getting ahead of the compliance curve
Learn about new services that make it easy to discover and manage certificates across the enterprise and how to get ahead of the compliance curve.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.