Linked by Thom Holwerda on Thu 18th Apr 2013 11:21 UTC
PDAs, Cellphones, Wireless Nokia has posted its quarterly results for the first quarter of 2013, and just like the quarters that came before, there's not a whole lot of good news in there. The rise in Lumia sales still can't even dream of making up for the sales drop in Symbian phones, and when broken down in versions, the sales figures for Windows Phone 8 Lumias in particular are very disappointing. In North America, Nokia is getting slaughtered.
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RE[9]: Ehm
by Nelson on Thu 18th Apr 2013 16:43 UTC in reply to "RE[8]: Ehm"
Nelson
Member since:
2005-11-29

You missed the part in the report that states the net sales of the NSN group are down 30%, and their net operating profit is down 99% from the previous quarter.

The whole corporation just took a beating, no matter how one tries to spin it.


Have you read why? These things are long for a reason. Just reading the bullet points at the top doesn't cut it for analyzing the financial report.


The year-on-year decrease in Nokia Siemens Networks' net sales in the first quarter 2013 was primarily due to divestments of businesses not consistent with Nokia Siemens Networks' strategic focus as well as the exiting of certain customer contracts. Excluding these two factors, Nokia Siemens Networks' net sales in the first quarter 2013 declined by approximately 1% as lower net sales of Global Services were almost entirely offset by higher net sales in Mobile Broadband. The year-on-year decline in Global Services was primarily due to lower net sales in Professional Services and Care. The year-on-year increase in Mobile Broadband was primarily due to higher LTE net sales, partially offset by lower WCDMA and Voice and IP transformation net sales.


Year-on-year, Nokia Siemens Networks' non-IFRS sales and marketing expenses decreased 22% in the first quarter 2013 primarily due to structural cost savings. On a sequential basis, Nokia Siemens Networks non-IFRS sales and marketing expenses decreased 15% in the first quarter 2013 primarily due to lower incentive expenses and seasonally lower marketing spend.

Nokia Siemens Networks' non-IFRS administrative and general expenses decreased 21% year-on-year in the first quarter 2013 primarily due to structural cost savings. On a sequential basis, Nokia Siemens Networks non-IFRS administrative and general expenses decreased 5% in the first quarter 2013, primarily due to lower incentive expenses.


Nokia is very forthcoming regarding exactly what's going on with NSN, and why its not as bad as it seems when you just throw the numbers around like that. Unless of course, the $120 MILLION EUROS that NSN added to Nokia's cash on hand is imaginary.

Reply Parent Score: 3

RE[10]: Ehm
by tylerdurden on Thu 18th Apr 2013 17:46 in reply to "RE[9]: Ehm"
tylerdurden Member since:
2009-03-17

Frankly, it's a bit too early for my taste for herring, specially the red kind.

Nothing that you quoted discounts what I wrote.

Reply Parent Score: 1

RE[11]: Ehm
by Nelson on Thu 18th Apr 2013 18:11 in reply to "RE[10]: Ehm"
Nelson Member since:
2005-11-29

Oh, come on. I'm not sure you're even aware what the word red herring even means.

Reply Parent Score: 2