Bureau Chief, Helsinki
Ritsuko's Feed
Jan 14, 2013

Nokia’s results breakthrough buys it time and options

HELSINKI (Reuters) – Nokia’s stronger-than-expected quarterly results mean the mobile phone maker now has breathing space and better options to help it claw back a place alongside Samsung and Apple in the smartphone market.

The Finnish handset maker, whose fall from market leader to loss leader was so bad its chief executive said two years ago it was on a “burning platform”, may even be in a position to list or sell its Nokia Siemens Networks (NSN) arm at a premium, instead of having to auction assets cheaply as had been feared.

Jan 11, 2013

Analysis: Nokia’s results breakthrough buys it time and options

HELSINKI (Reuters) – Nokia’s stronger-than-expected quarterly results mean the mobile phone maker now has breathing space and better options to help it claw back a place alongside Samsung and Apple in the smartphone market.

The Finnish handset maker, whose fall from market leader to loss leader was so bad its chief executive said two years ago it was on a “burning platform”, may even be in a position to list or sell its Nokia Siemens Networks (NSN) arm at a premium, instead of having to auction assets cheaply as had been feared.

Jan 10, 2013

Lumia sales lift Nokia results, raise turnaround hopes

HELSINKI, Jan 10 (Reuters) – Nokia said strong
sales of Lumia smartphones helped its mobile phone business
achieve underlying profitability in the fourth quarter, raising
hopes the struggling handset maker may be past the worst.

The Finnish company, which has been losing market share to
Samsung and Apple, said the
better-than-expected result was also helped by 50 million euros
($65.2 million) in patent fees, cost cuts and a
stronger-than-expected performance from its Nokia Siemens
Networks unit.

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.