Nokia CEO Olli-Pekka Kallasvuo says the demand for mobile devices improved in many markets during the third quarter–but you wouldn’t know it to look at the company’s earnings. This morning, Nokia posted an unexpected 559 million euro ($836 million) loss for the period, its first in a decade. Worse, its smart-phone market share declined to 35 percent from 41 percent in the previous quarter.
Microsoft is prepping a slimmed down version of the forthcoming Windows 7 operating system to work on so-called netbooks. Asustek is mulling a mini-laptop that runs on Google’s Android OS. Now, Nokia is looking with interest at the netbook market as well.
Reporting second-quarter earnings today, Nokia CEO Olli-Pekka Kallasvuo said that the worst may be over. He had better hope so, because the world’s largest handset maker is clearly having a tough time of it. Nokia posted a gruesome 66 percent drop in profit in what the company generously described as a “tough” second quarter.
Apple and Research in Motion may disagree on many things, but they’re of the same mind when it comes to the the netbook phenomenon: It will be short-lived. Asked about Apple’s interest in the category during a late-April earnings call, COO Tim Cook said the company has none. Turns out, Research in Motion co-CEO Jim Balsillie feels pretty much the same way.
Nokia, the world’s largest maker of mobile phones, will soon be just a tad smaller. This morning the company said it will sack a further 450 employees in its mobile services business, a division charged with developing and delivering the Ovi-branded Internet services tied to Nokia devices. Seems the still souring economy has undermined Nokia’s ambitions in that area, and Apple’s success with the iPhone App Store has inspired it to look to third-party developers to bring new applications to its devices.
Nokia’s Capital Markets Day event is proving quite the downer, and the day’s only just begun. This morning the company cut its global handset market forecast for the second time in three weeks, warning that the slowdown in the industry is worse than expected.
John Paczkowski has been poking fun at the tech industry and the personalities that drive it since 1997. From 1999 to 2007, he wrote the award-winning tech news Web log Good Morning Silicon Valley for the San Jose Mercury News, Silicon Valley's daily newspaper.
Here is a statement of my ethics and coverage policies. It is more than most of you want to know, but, in the age of suspicion of the media, I am laying it all out.
Best video mashup ever.
A Facebook Memorial
Wow.
Worth it for the Rickrolling photo alone.
Excellent.
Flughumor!
… you vacuous, toffee-nosed, malodorous perverts
Stephen Fry and zoologist Mark Carwardine meet the kakapo — a fat, flightless and very randy rare parrot.
Spectacular in the bellowing Russian sailor sense of the word …
“If you spell something wrong on your insurance claim, do you really deserve surgery? I don’t think so …”
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