Nokia Siemens Networks (NSN) has announced that it plans to axe 17,000 jobs from its global workforce by the end of 2013. The company said that the job cuts are part of a move to target end-to-end mobile network infrastructure and services, with a particular emphasis on mobile broadband.
Sony will face a tough time turning around the fortunes of Sony Ericsson, which it will soon own outright, after the handset manufacturer posted a staggering net loss of €207m ($265m) for 4Q11. The loss is in contrast to the €8m profit the firm posted in the same quarter a year earlier.
Handset manufacturers are suffering the repercussions of a poor global economic climate as Finland’s Nokia has announced that it plans to delist from the German stock exchange next year, while Taiwan’s HTC has amended its sales forecast for 4Q11.
Telefonica, Europe’s largest operator, has reported its first quarterly loss in nine years, in its earnings announcement for 3Q11.The firm’s revenue took a staggering plunge from €5.1bn in 3Q10 to a €429m loss in the same quarter this year. It blamed regulatory impact, hugely challenging economic and competitive environments and costs to eliminate jobs for the drop.
Vodafone group has announced that it has seen a 2.2 per cent year-on-year increase in its revenue in the six months ending 30 September 2011. The firm generated £23.5bn ($37.8bn) in the period, with its adjusted operating profit standing at £6bn – 4.4 per cent more than the £5.8bn it made in the same period last year.
Against the backdrop of the Eurozone debt crisis, it seems a good week to be talking about financial performance. And as always there are winners and losers in the numbers game. The Chinese may be reluctant to help the Greeks out of their hole, but has anyone thought about asking Qualcomm?
Chipmaker Qualcomm has announced a sharp increase in revenue and profit in its financial results for its final quarter and year ending September 25, 2011.
Carrier and parent of Orange and T-Mobile UK, Everything Everywhere has posted lower revenue for the third quarter of 2011 compared with the same period last year, citing regulatory cuts as the reason for the drop.
US carrier AT&T’s earnings for the third quarter of 2011 have fallen slightly short of Wall Street expectations as revenues hit $31.5bn, down $103m – or 0.3 per cent – on the same period a year earlier.
Swedish equipment vendor Ericsson turned in a strong set of figures for the third quarter, notching up an increase in net sales of 17 per cent year on year to SKR55.5bn (€6bn), while net income edged up six per cent to SKR3.8bn.
Apple shocked Wall Street by reporting results that missed expectations for the first time in years, despite seeing a staggering 85 per cent increase in profit for the year. The company posted net profit of $25.9bn for the year ending 25 September 2011, up from the $14bn it recorded over the course of FY10. Apple’s total revenue for the year stood at $108bn, 66 per cent higher than what was generated over 2010.
Sony Ericsson has reported a net profit figure of zero for the third quarter of 2011, as company continues to struggle in the increasingly competitive handset market.
RIM’s has seen its profits slide to less than half of what it generated in the previous quarter, and to little over 40 per cent of what it made in the same quarter last year. The company’s quarterly earnings for 2Q11 revealed that its net income for the quarter was $329 million. This marks a steep drop from the $695 million it recorded in 1Q11, an even steeper fall from the $797 million made in 2Q10.
German carrier Deutsche Telekom reported a significant drop in net profit for the first half of 2011, from €1.2bn a year ago to €828m this year. Revenues were on the slide as well from €31bn in H1 2010 to €29bn in H1 2011.
Canada’s Bell Aliant made major progress in its Fibre-to-the-Home (FTTH) expansion plan in the second quarter of this year, and now passes 294,000 homes and businesses in Atlantic Canada with the technology – with over half of its FTTH expansion plan still to come.