Nokia reports pre-tax loss for first quarterApril 16th, 2009 - 6:40 pm ICT by IANS
Helsinki, April 16 (DPA) Citing an “exceptionally tough environment”, Nokia, the world’s largest maker of mobile phones, Thursday reported lower sales and a sharp drop in operating profit for the first quarter of 2009.
The Finland-based company posted a pre-tax loss of 12 million euros ($15.8 million), compared to a pre-tax profit of 1.6 billion euros for the corresponding business period in 2008.
First-quarter sales dropped 27 percent year-on-year to 9.3 billion euros, the group said.
The operating profit declined 96 percent to 55 million euros, compared to 1.5 billion euros for the corresponding business period in 2008.
The company sold 93.2 million units, down 19 percent year-on-year and down 18 percent compared to the fourth quarter of 2008.
Nokia estimated its share of the global mobile phone market to be 37 percent in the quarter, unchanged compared to the fourth quarter of 2008 but down over its 39 percent share in first-quarter 2008.
In its outlook, Nokia said it expected the global mobile handset market to be on the same level or increase slightly in second-quarter 2009, and forecast it would increase its share.
The overall global handset market in 2009 was likely to decline by 10 percent compared to 2008, the group said.
Net sales for the 50-50 joint venture Nokia Siemens Networks - launched 2007 between Nokia and Germany’s Siemens - declined 12 percent to 2.99 billion euros, year-on-year.
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Tags: finland, first quarter sales, fourth quarter, germany, handset market, helsinki, joint venture, mobile phone market, mobile phones, net sales, nokia, nokia siemens networks, operating profit, second quarter, siemens, tax profit