HELSINKI (Reuters) – Nokia’s telecoms equipment unit, NSN, is focusing on expanding sales after years of concentrating on cost cutting and ditching unprofitable contracts to improve margins, its chief executive said on Wednesday.
Nokia Solutions and Networks (NSN) CEO Rajeev Suri, considered a leading candidate to head the Finnish company after it sells its loss-making handset business to Microsoft, did not rule out acquisitions to expand the business.
HELSINKI, Nov 7 (Reuters) – Loss-making Finnish nickel miner
Talvivaara said it was in advanced rescue talks with
the government on Thursday and warned it could face bankruptcy
if negotiations failed.
The government, which is the company’s largest shareholder,
said it wanted private investors to contribute to any financial
support and there was no certainty a solution would be found.
HAMINA, Finland (Reuters) – Google will invest another 450 million euros ($607 million) over the next few years in a data center in Finland, boosting a country struggling with Nokia’s decline and weakness in its paper and steel industries.
Prime Minister Jyrki Katainen welcomed the move, one of the biggest foreign direct investments in Finland, and said the government planned to reduce electricity taxes for data centers to encourage more such stakes.
HELSINKI, Nov 1 (Reuters) – Finnish stainless steel maker
Outokumpu reported bigger than expected losses on
Friday and said it will have to sell its Terni plant in Italy
after failing to persuade European regulators otherwise.
Outokumpu had agreed to sell Terni to get regulatory
approval to buy ThyssenKrupp’s unit Inoxum but
analysts say a subsequent slump in global steel demand means a
sale may well yield a fraction of Terni’s original value.
HELSINKI, Oct 29 (Reuters) – Nokia predicted a
more profitable future for its NSN networks equipment business
on Tuesday, raising hopes for growth in what will be the Finnish
firm’s main business after its former flagship phones division
is sold to Microsoft for $5.2 billion in the new year.
The third-quarter results also showed growth in Lumia
smartphone sales, although analysts said Microsoft will still
face a tough time in pushing its way into the competitive
consumer devices market with the Nokia deal, which is due to
close some time in the first quarter.
ABU DHABI/HELSINKI, Oct 22 (Reuters) – Nokia
unveiled its first tablet computer and new large-screen
smartphones, which will form part of Microsoft’s push
in consumer devices when it takes over the Finnish company’s
The products serve as a poignant way to mark the end of an
era for the former global leader in mobile phones, representing
its engineers’ last-ditch attempts at regaining market share
from Apple and Samsung after its pitifully
slow start to the smartphone race.
HELSINKI, Oct 17 (Reuters) – Finnish mining technology
company Outotec lowered its full-year sales and
profit margin forecasts and said it planned to cut up to 500
jobs as a sluggish global economy forces miners to rein in
In a further sign of tough times for Finland’s industrial
firms, its warning on Thursday came just after engineering
company Metso said it faced a fall in sales and
profit due to weakness in its pulp, paper and power unit.
HELSINKI (Reuters) – Finland’s new minister in charge of state ownership said mining company Talvivaara (TLV1V.HE: Quote, Profile, Research, Stock Buzz) and others which have received state investment should deal with market forces without relying too much on government support.
Pekka Haavisto was chosen late on Wednesday by his party, the Greens, as the new Minister for International Development. In addition to overseeing foreign aid, he will also be responsible for the state’s investments in companies.
TOKYO/HELSINKI (Reuters) – Japanese tech and telecoms group SoftBank Corp is to buy into Finnish mobile gaming company Supercell in a deal that values the three-year-old maker of hit game Clash of Clans at $3 billion.
SoftBank said it would pay 150 billion yen ($1.53 billion) for a 51 percent stake in Supercell, with 20 percent of that investment coming from its own mobile games maker subsidiary GungHo Online Entertainment Inc.
HELSINKI, Oct 14 (Reuters) – Crane maker Konecranes
lowered its full-year outlook on Monday after
third-quarter orders fell 10 percent and profit came in below
expectations, underscoring a weak outlook for Finnish industrial
Europe’s prolonged economic slump has hurt sales of
Konecranes’ industrial cranes, which are used by a wide range of
manufacturers and in shipyards and ports. In July, it said it
would cut up to 600 jobs after second-quarter results fell short