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Nokia profit up; Sales dip due to Covid19

30Apr By PriyankaNo Comments

BUSINESS

Nokia profit up; Sales dip due to Covid19

Nokia has reported first-quarter profit but said the COVID-19 pandemic dented sales by around USD 218 million mainly due to supply issues associated with disruptions in China. The company based in Espoo, Finland, reported a net profit of 33 million euros for the January-March period, in comparison to a loss of 116 million euros the previous year. Sales were down 2 percent at 4.9 billion euros. CEO Rajeev Suri said, Nokia didn't see a decline in demand in the first quarter but noted that as the coronavirus situation develops an increase in supply and delivery challenges in a number of countries is possible and some customers may re-assess their spending plans. Nokia is one of three main providers of the ultra-fast, new-generation 5G networks along China's Huawei and Sweden's Ericss...

Nokia to Launch Flipkart-Exclusive Smartphone on August 21

20Aug By Gauri SinghNo Comments

Tech

Nokia to Launch Flipkart-Exclusive Smartphone on August 21

Nokia is coming up with an all-new device expected to be the Nokia 6.1 Plus which is to be launched in India on August 21. It is being said that the smartphone is expected to be exclusively available on Flipkart. The e-commerce major has also released a video teaser for the launch event featuring musicians Shankar, Ehsaan, and Loy. However, it is still not clear through the video that which smartphone is going to be launched, but it does confirm that a Nokia device is incoming on August 21. The teaser released on Flipkart shows its partnership with HMD Global to launch the Nokia 6.1 Plus variant in India. It also confirms that the smartphone will be Flipkart exclusive, and more details on pricing and timing of availability will be known on the launch day. Talking about the phone, ...

HCL Tech inks a five year IT Infrastructure Deal with Nokia

22Jun By Lavina TolaniNo Comments

BUSINESS

HCL Tech inks a five year IT Infrastructure Deal with Nokia

HCL Technologies has partnered with Finish Telecom company Nokia in a five-year deal to modernise its IT infrastructure and application services. As a part of the deal, HCL will transition service from four incumbent vendors to establish an integrated IT service design and delivery framework while implementing a transition roadmap. For Nokia, the deal will help to improve operational efficiencies as announced in the press release. The official statement in the PR said, "Nokia has selected HCL Technologies as part of an important effort of streamlining Nokia's outsourced IT management services." Nokia Chief Operating Officer Joerg Erlemeier said, This is an important development for Nokia and takes our digital transformation efforts to a new level, both for how it will...

23May By Lavina TolaniNo Comments

FUNDING

HMD Global Bags “Unicorn Status” Post $100 Mn Funding

HMD Globals, the Finnish company that manufactures Nokia smartphones and feature phones has been successful in raising $100 million from investors to scale up its business operations and fund its growth. The latest funding has put HMD grab the "unicorn status" with a current market valuation of exceeding $1 billion. The round of investment was led by Geneva-based Ginko Ventures via Alpha Ginko Ltd. with participation from DMJ Asia Investment Opportunity and Wonderful Stars which is a subsidiary of FIH Mobile Ltd. Florian Seiche, CEO, HMD Global, said in a statement on Monday, We are thrilled to have these investors join us in our journey to script the next chapter of Nokia phones. It is our ambition to deliver great smartphones that delight our fans while staying true to o...

Nokia-Maker HMD Global Intents to Make Components in India

9Apr By Lavina TolaniNo Comments

Tech

Nokia-Maker HMD Global Intents to Make Components in India

Often recognized as Nokia Maker in international Market, Finnish company HMD Global is working diligently on making its own components in the country, as reported by a senior company official. Ajey Mehta, Vice-President, HMD Global told in his media interaction, We are treading on a path of phase manufacturing programme.We have already begun our conversations with our partner Foxconn to manufacture our own components in the country. It will happen in some time. We might be a little behind our time, but eventually, components that attract import duty will be manufactured here. The Indian Government has come with a 10 percent duty on import of key components like printed circuit board assembly and camera module to encourage domestic manufacturing in the country. HMD Global is al...

Nokia’s Mobile Networks Head Quits, to Split Business

19Mar By NitishNo Comments

News

Nokia’s Mobile Networks Head Quits, to Split Business

Nokia's head of mobile networks, the division which accounted for more than half of the Finnish telecom network equipment maker's sales last year, is leaving the company. Nokia said on Friday it would break out services as a distinct business group from mobile networks following the departure of Samih Elhage, who joined the company in 2012 and helped to turn around its network business at a time when it was a troubled joint venture with Siemens. Services were growing in importance because of the weak global outlook, Nokia said. The global networks market is expected to fall this year as telecom operators' demand for faster 4G mobile broadband equipment has peaked, and upgrades to next-generation 5G equipment are still years away. "He has been a close friend and advisor... I fully su...

24Jun By Press Trust of IndiaNo Comments

News

Nokia Appoints Sanjay Malik India Head

Nokia today announced the appointment of Sanjay Malik as the head of Indian market, effective August 1. Malik is currently Head of Network Implementation (NI) at Nokia Global Services and is credited with efficiently driving growth and delivering strong performance both in terms of revenue and operational efficiency, the company said in a statement here. In his new role, he will lead customer operations, drive the business growth strategy and superior customer engagement services for the India market. He will be based in Gurgaon. Previously, he was heading Bharti GCBT (Global CBT), where he led the transformation of the business by enhancing customer satisfaction, market share and business results across India and Africa, the statement said. He joined Nokia in 2000, and takes o...

Nokia Signs $1.5 Billion Framework Deal With China Mobile

14Jun By reutersNo Comments

BUSINESS

Nokia Signs $1.5 Billion Framework Deal With China Mobile

Nokia has signed a 1.36 billion euro ($1.5 bln) one-year framework deal with China Mobile, the Finnish company said on Monday, easing fears that it would lose market share while it merges operations with Alcatel-Lucent. Shares in the company were up 0.2 percent as of 1120 GMT versus a Helsinki bourse down 1.42 percent. Nokia's network equipment sales fell more than expected in the first quarter as buyers held off due to the Alcatel integration process.China Mobile is Nokia's biggest customer in China. "In the light of this announcement, China is not the market which one should be very worried about this year. They've managed to hold on to the positions of old Nokia and old Alcatel," said Nordea analyst Sami Sarkamies, who holds a 'buy' rating on the stock. He added that N...

25May By reutersNo Comments

News

Microsoft Will Cut off 1800 Jobs

Microsoft Corp said on Wednesday it will trim down its smartphone business by cutting 1,850 jobs, most of them in Finland, and write down $950 million from the operation. The U.S. company, which entered the phone business in 2014 by buying Finnish firm Nokia's handset unit, said it would "streamline" its smartphone business and close down its research and development site in Tampere, Finland. Microsoft said it will continue to develop Windows 10 Mobile platform and support its Lumia smartphones, but declined to say whether it would develop new phones. "We are focusing our phone efforts where we have differentiation," said chief executive Satya Nadella in a statement. We will continue to innovate across devices and on our cloud services across all mobile platforms." Earlier this ...

Nokia to Cut 10,000-15,000 Jobs Worldwide: Finnish Union

25May By reutersNo Comments

News

Nokia to Cut 10,000-15,000 Jobs Worldwide: Finnish Union

Nokia is likely to cut 10,000 to 15,000 jobs globally as part of a cost-cutting programme following its acquisition of Franco-American rival Alcatel-Lucent, a Finnish union representative said. Nokia kicked off the programme in April with a target to slash $1 billion of operating costs by 2018, but it has yet to give a figure for how many jobs will be reduced in total. "We haven't heard any official numbers, but based on the information from our union contacts, I would estimate the global impact of this round would likely be around 10,000 to 15,000 jobs," said Risto Lehtilahti, a trade union shop steward at Nokia's Oulu site. A Nokia spokeswoman declined to comment on the 10,000-15,000 figure. Nokia employs around 104,000 people worldwide. Last week the company specified its pl...

No WhatsApp on BlackBerry, Nokia by 2017

29Feb By AnkitaNo Comments

Tech

No WhatsApp on BlackBerry, Nokia by 2017

Facebook owned messaging service WhatsApp has announced that its services would be discontinued on BlackBerry and Nokia devices by 2017. WhatsApp's announcement also includes Nokia's low-end S40 and S60 Symbian platforms, as well as the older Android 2.2 and Windows Phone 7.1 operating systems, the Verge reported. Based in Mountain View, California, WhatsApp was acquired by Facebook Inc. on February 19, 2014, for approximately USD 19.3 billion. As of February 2016, WhatsApp had a user base of up to one billion making it the most globally popular messaging application. Whatsapp Blog - Earlier this week WhatsApp turned seven years old. It has been an amazing journey and in the coming months we're putting an even greater emphasis on security features and more ways to stay...