Nokia has announced its results for the first quarter of 2014. It said that the company would have had net cash of €7.1 billion if the sale to Microsoft had closed before the end of the quarter. Instead the company now has cash balance of €2.1 billion. It reported operating profitability for Nokia's continuing operations increased to €304 million, 11.4% of net sales, compared to €254 million or 8.1% of net sales in Q1 2013. The company recently announced former networking unit head Rajeev Suri, as president and CEO after sale of Nokia's devices business to Microsoft. In the results the company has referred to the former devices division as 'discontinue operations'. Devices business - discontinued operations - In the quarter, Nokia announced affordable devices running on a version of Android, that comes with Microsoft services and signature Nokia experiences. - Nokia's facility in India will remain with the company following the closing of the transaction. Nokia and Microsoft have entered into a service agreement whereby Nokia would produce mobile devices for Microsoft for a limited time. - In Korea, Nokia and Microsoft agreed to exclude the Masan facility from the scope of the transaction and Nokia is taking steps to close the facility, which employs approximately 200 people. - The company did not disclose the actual number of devices it sold in the quarter. The company reported net sales of €1.9 billion, down 30% Year-on-Year (YoY) and 27% sequentially. Sales declined due to lower mobile phone sales and intense…
- Protecting Personal Data: Where Grievance Redressal Falls Short December 9, 2022
- Latest developments in the ransomware attack on AIIMS-Delhi as it partially resumes server facilities December 8, 2022
- EPoS Systems at 5.33 Lakh PDS Shops in India, But No Response by Ministry on Device Failures December 8, 2022
- How does the new data protection bill affect platform gig workers? December 8, 2022
- Indian Govt to Pay Tariff to Telcos for SMS Alerts, Except Under Disaster Management Act December 8, 2022
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."
By Soujanya Sridharan and Dr. Sarayu Natarajan Platform work and data: the intersection Every time you use a ride-hailing app, the matching algorithm processes...
New bill narrows focus over predecessors that went heavy on data sovereignty, localisation and compliance. What explains this change?
The Structure and Style of a Dogma Community: Conspiracy theories and organized Twitter engagement on Sushant Singh Rajput
Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement
Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...