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DaffyDuck
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Seems like Nokia is betting the farm that expensive smartPhones without any 'cool' factor will sell big.... In China.
Idiots!
http://seattletimes.nwsource.com/html/businesstechnology/2017852980_apaschinanokia.html
Nokia launches China smartphone, hopes for rebound
BEIJING —
Struggling cellphone maker Nokia launched its first smartphone design for China on Wednesday, looking to the world's biggest mobile market to help drive a turnaround.
Nokia said its new Lumia 800C is designed to run on China's CDMA networks and will be supported by China Telecom, one of the country's three major state-owned carriers.
Finland-based Nokia launched a corporate turnaround effort one year ago after falling far behind Apple Inc. and other competitors in tapping into the new popularity of smartphones.
China is the world's biggest mobile phone market with about 900 million accounts, and is Nokia's biggest market.
"China is critically important for Nokia," CEO Stephen Elop told a news conference.
The Lumia 800C will go on sale in early April for 3,599 yuan ($570), according to Elop.
He said Nokia and China Telecom plan to release a lower-priced model, the 610C, aimed at students and other budget users. The Lumia 900c and the 710C sold in other markets would also be brought to China over time.
Nokia has formed partnerships with leading China web portals and application designers, such as search engine Baidu, and portals Sina, Sohu and Tencent, to create the services that form a large part of the appeal of smartphones, Elop said.
"We're collaborating with local partners to meet global needs," he said.
Elop was joined at the launch event with China Telecom Chairman Wang Xiaochu and executives of other partner companies.
Once the bellwether of the industry, Nokia has lost its dominant position in the global mobile phone market, with Android phones and iPhones overtaking it in smartphones. Asian manufacturers are also squeezing it at the low-end. Its market share plummeted to below 30 percent last year from 40 percent in 2008.
The company announced earlier this year that it would stop assembling cell phones in Europe by year-end as it shifts production to Asia and will cut another 4,000 jobs, its latest attempts to cushion itself from stiff competition.
The cuts come on top of nearly 10,000 layoffs announced last year.
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Thai Girls : Meet Sexy Thai Girls
Posted on: 9:41 am on Mar. 28, 2012
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DaffyDuck
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I guess Nokia is just the latest company to learn the hard way that trusting Microsoft is basically a death knell.
http://www.electronista.com/articles/12/04/24/nokia.shares.downgraded.to.junk.status/
Fitch Ratings downgrades Nokia shares to junk status
Nokia shares downgraded to junk status
Nokia has suffered a symbolic blow with Fitch Ratings downgrading the Finnish mobile device maker’s shares to junk status, reports Reuters. The revised rating, down from BB+ to BBB-, was assigned on the grounds that the company appears unable to reverse its downward slide. Fitch also suggested that it might downgrade Nokia’s shares further if it does not start to show signs of a recovery soon.
‘Given the potential headwinds facing the company, Fitch is currently not convinced that Nokia can attain this over the course of 18 months," reads a statement from the ratings agency.
In response, Nokia released a statement to the market reiterating sentiments from its dire first quarter results conference call last week.
‘Nokia will continue to increase its focus on lowering the company's cost structure, improving cash flow and maintaining a strong financial position,’ said Nokia CFO Timo Ihamuotila.
Nokia, once the dominant player in the smartphone segment, has been hemorrhaging market share to both Apple’s iPhone and smartphones running the Android OS. According to Sanford Bernstein analyst Mark Newman, Nokia will also lose its position as the world’s largest handset maker over the course of 2012, with Samsung taking its lead. Samsung, said Newman, has benefitted from the strong demand for both its high-end Galaxy line of smartphones, but also its preparedness to sell cheap phones catering for all budgets.
Nokia’s results for the first quarter showed the company made a $775 million loss. Perhaps, more disconcertingly, its big gamble on Windows Phone 7 has yet to show any significant return. The precipitous plunge in sales of its now defunct Symbian OS-powered smartphones has continued to dramatically outpace any gains in its Windows Phone 7 device sales.
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Bangkok Women : Meet Sensual Bangkok Women
Posted on: 11:03 am on April 24, 2012
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tvn
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So MS can buy Nokia for cheap....
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Thai Girls : Meet Sexy Thai Girls
Posted on: 10:09 pm on April 25, 2012
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