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Nokia Q3 Sales, Marketshare Down; $70 Million In Chennai NSN Facility; Push For Push Email

Handset manufacturer Nokia, which has the largest marketshare in India, warned of uncertainty as it reported a decline in Q3 net sales of 5 percent year on year, and 7 percent quarter-on-quarter. During the analyst conference call, Nokia CEO Olli-Pekka Kallasvuo said that the it is unclear how the global financial situation will impact different markets, particularly since many consumers in markets like China, India, AsiaPac and Latin America have consumers who prioritize their spending; spending from this segment was impacted by high commodity prices over the last year, but that bubble has now burst, with a decline in the price of oil and rice.

Reuters reports that Nokia Siemens Network will set up a factory in India, near Chennai, investing $70 million over three years on the facility. The factory will make and distribute mobile communication equipment.

Nokia’s global marketshare fell to 38 percent (down from 39 percent), though device volumes were down 3 percent sequentially in Q3 at 117.8 million units. While India numbers were not shared, Nokia suggested a 3 percent q-o-q decline in overall handset shipped volumes in the Asia-Pac region. Kallasvuo blamed the decline in marketshare on competitors who “have cut prices to either clear stock, or drive scale. We have not participated in these unsustainable price wars. This time we decided not to participate in the price competition. We will and try and take marketshare in a sustainable manner. We will continue to manage the business tactically, and manage the margins and market share.” According to Nokia estimates, over market volumes were at 310 million unites, up 8 percent y-o-y. Nokia expects a seasonal uptake in Q4 in the device market, but is slightly muted.

Push Email: Nokia appeared to be quite bullish on its Push Email solution: Kallasvuo said that the company has shipped over 1 million units of the E71 – “This is our first true mass market QWERTY device”. They’ve seen a great deal of activation of email with his product, and expect it to be popular going forward. “We are beta testing our consumer push email solution, which we plan to roll out commercially soon. We are going to add more languages.”

Details: Earnings Call, Earnings Call Transcript, Earnings Release, Presentation , Financials

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    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ