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24 April 2017 09:36 (South Africa)

Nokia’s 3rd quarter $832 million blood bath

It was the world’s biggest mobile phone maker that lost the big money this time - the first time in 10 years. It blames the components shortage and the difficult trading environment caused by the global recession. However, the problems may be difficult to get rid of in the near future: analysts believe the components’ problem will persist as Nokia is attacked on two fronts: at the top end Apple is very much buying all the flash memory it can lay their hands on for its insanely popular iPhone, while LG and Samsung are eating into the Nokia’s low-end phones supply system. And although Nokia booked a $1.35 billion write down at Nokia Siemens Networks venture, it still believes the network infrastructure market will eventually power it out of the doldrums.

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