www.WirelessFederation.com/news: Nokia, the Finnish handset manufacturer has posted a 66% drop in its quaterly net profits. The net profits for the manufacturer dipped to 380 million euros (535 million dollars) driven by fall in handset sales and lower prices. “Competition remains intense,” chief executive Olli-Pekka Kallasvuo said in a statement. “But demand in the overall mobile device market appears to be bottoming out.”
Nokia said “the deteriorated global economic conditions, including weaker consumer and corporate spending, constrained credit availability and currency market volatility” were the key drivers behind the drop in profits.
“Nokia now expects its market share in mobile devices to be approximately flat in 2009, compared with 2008,” the company said in a statement.
www.WirelessFederation.com/news: BSNL, the state owned telco, has posted loss of nearly 21% in fiscal year of 2008-09. The revenues dipped to Rs.11,505 crore from Rs.14,499 crore the previous year.
The operator also saw a drop in number of BSNL landline connections. “The number of working BSNL landline telephone connections has reduced by 7.27 lakh during the last six months – from 297.03 lakh in November 2008 to 289.76 lakh in May 2009,” Minister of State for Communications and IT, Gurdas Kamat reportedly said.
Kamat said the main reason for the surrender of landline connections was the increasing usage of mobile phones.
www.WirelessFederation.com/news: Vimpelcom, the Russian mobile operator posted a growth of 27.1% in its Q4′08 net operating revenues to USD 2.56 million. OIBDA grew to USD 1.124 billion, up 22.4% versus Q4 2007. Net loss reached USD 816 million, reflecting USD 1.012 billion loss driven by currency depreciation and USD 443 billion impairment loss. Vimpelcom added 3.3 million mobile subscribers during the quarter, taking the total to 61 million.