Bureau Chief, Helsinki
Ritsuko's Feed
Dec 18, 2012

Lumia sell-out no proof of Nokia turnaround

HELSINKI (Reuters) – It’s too soon to bet that Nokia’s (NOK1V.HE: Quote, Profile, Research) on the road to recovery after its new Lumia smartphones were sold out in many stores across Europe and America, as retailers say supplies have been short ever since their launch.

The Lumia 920 and 820, which use Microsoft’s (MSFT.O: Quote, Profile, Research) latest Windows Phone 8 software, were launched last month with expectations of a “make or break” for Nokia, once the undisputed leader in mobile phones, now losing share in smartphones and lower-end handsets.

Dec 18, 2012

Analysis: Lumia sell-out no proof of Nokia turnaround

HELSINKI (Reuters) – It’s too soon to bet that Nokia’s on the road to recovery after its new Lumia smartphones were sold out in many stores across Europe and America, as retailers say supplies have been short ever since their launch.

The Lumia 920 and 820, which use Microsoft’s latest Windows Phone 8 software, were launched last month with expectations of a “make or break” for Nokia, once the undisputed leader in mobile phones, now losing share in smartphones and lower-end handsets.

Dec 11, 2012

Metso’s mining business to prop up profits in 2013

HELSINKI, Dec 11 (Reuters) – Finnish engineering group Metso
gave a stronger than expected outlook for 2013
profits on Tuesday, saying a stronger mining services business
would help compensate for weak machine orders in its paper,
power and other markets.

Metso’s shares were up 3.2 percent by 0926 GMT after the
company forecast sales and profits in 2013 would be similar to
results this year, a surprise to investors who had anticipated a
fall. The Helsinki market’s main share index was up
0.4 percent.

Nov 21, 2012

Talvivaara gets nod to restart metals plant after leak

HELSINKI (Reuters) – Mining company Talvivaara (TLV1V.HE: Quote, Profile, Research) (TALV.L: Quote, Profile, Research) is set to restart its metals plant in Finland after a leakage of toxic waste water, and analysts expect it to seek over 100 million euros ($128 million) from investors to keep the site running.

Local authorities gave Talvivaara permission to restart the plant in Sotkamo, eastern Finland and production was due to begin by Sunday, three weeks after the leak was found on November 4, the company said on Wednesday.

Nov 13, 2012

New Lumia phones seen winning Nokia more time

HELSINKI (Reuters) – Nokia’s new Lumia smartphones are trickling into the market and early signs suggest they may sell well enough to give the handset maker more time in its fight against industry leaders Samsung and Apple.

But investors shouldn’t expect a quick turnaround for the struggling Finnish cellphone maker, with rival gadgets like mini tablet computers vying for consumers’ attention, analysts said.

Nov 6, 2012

Finland’s Fennovoima may tap reactor supplier for investment

HELSINKI (Reuters) – Finnish nuclear consortium Fennovoima may ask the potential supplier of its planned reactor to also invest in the project as it strives to keep the programme on track following the withdrawal of its biggest backer.

Fennovoima is due to choose next year between potential suppliers Areva SA (AREVA.PA: Quote, Profile, Research, Stock Buzz) or Toshiba Corp (6502.T: Quote, Profile, Research, Stock Buzz) to build its planned reactor in Pyhajoki, northern Finland, the first reactor site announced after the disaster in Fukushima, Japan.

Nov 6, 2012

Finnish Fennovoima says new investor may be reactor supplier

HELSINKI (Reuters) – The new head of Finnish nuclear consortium Fennovoima, whose reactor project was thrown into doubt by the withdrawal of its biggest investor E.ON (EONGn.DE: Quote, Profile, Research, Stock Buzz) last month, said a new investor in the venture could also be a supplier for the planned plant.

Fennovoima is due to choose next year between potential suppliers Areva (AREVA.PA: Quote, Profile, Research, Stock Buzz) or Toshiba (6502.T: Quote, Profile, Research, Stock Buzz) to build its planned reactor in Pyhajoki, northern Finland.

Oct 28, 2012

Finnish eurosceptics gain local seats but lose momentum

HELSINKI (Reuters) – The anti-euro Finns Party won 12.8 percent of the vote in Finnish municipal polls on Sunday, according to early estimates, showing its popularity down from last year’s national election but still strong enough to pressure the pro-Europe government.

Prime Minister Jyrki Katainen’s conservative National Coalition party led with 21.4 percent of votes, followed by his coalition partners the Social Democrats with 20.2 percent, public broadcaster YLE estimated after more than half the votes were counted.

Oct 26, 2012

Finnair sees profit this year and plans more cost cuts

HELSINKI, Oct 26 (Reuters) – Finnair Oyj said it
was likely to turn profitable this year on an underlying basis
for the first time since 2008, as its cost-cutting plans were
proceeding faster than expected.

It also announced a new restructuring plan aiming to save an
additional 60 million euros in costs through 2014, on top of an
existing plan to cut 140 million by end-2013, to help pay for
new aircraft.

Oct 23, 2012

Nokia seeks $972 million from bonds to help drive fight back

HELSINKI (Reuters) – Mobile phone maker Nokia (NOK1V.HE: Quote, Profile, Research) plans to raise 750 million euros (610 million pounds) from bonds convertible into shares, seeking a cheap way to help finance its fight to claw back market share lost to Apple and Samsung.

Once the world’s biggest mobile phone maker, the Finnish firm has fallen far behind Apple’s (AAPL.O: Quote, Profile, Research) iPhone and Samsung’s (005930.KS: Quote, Profile, Research) Galaxy phones in the lucrative smart phone market, and is pinning its hopes for recovery on new models that go on sale next month.