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Last updated: Thursday, January 22, 2009

Nokia: Connecting Less People Than Before Just when it seemed like the wireless industry was positioned to get back on track, out came Nokia with another issue of its Bad Earnings Report. Among the worst was the company’s profit, which sank 69% from last year. Major ouch. The important parts of the earnings report: Global market share: down to 37%, from 40% in 2007 and 38% in Q3 2008 Sales: 12.7 billion euros, down 19% from last year Devices shipped: 305 million units, down 19% from last year Device sales: 8.1 billion euros, down 27% from last year Q1 2009 outlook: Q1 is normally pretty lackluster, but Q1 2009 will be especially bad 2009 industry outlook: shipments will be 10% less than in 2008, earlier estimate was 5% Dividend: may decrease to 0.40 euros a share compared to 0.53 euros a share The only real bright spot was Nokia’s NAVTEQ business, which grew sales by 18.5% as compared to last year. Sadly, that business had very, very little to do with Nokia’s core wireless devices.

See more here:
Nokia’s Q4 2008 Earnings Report: Dismal

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