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Mar 7, 2013

Nokia CEO’s pay package halved in 2012

HELSINKI, March 7 (Reuters) – Nokia Chief
Executive Stephen Elop took a 45 percent cut in his pay package
last year, according to a U.S. regulatory filing, as the company
continued losing market share in smartphones to Samsung
and Apple.

Elop, hired in 2010 from Microsoft Corp to turn
around the Finnish mobile phone maker, earned 4.33 million euros
($5.63 million) in 2012, down from 7.94 million euros in 2011.

Feb 22, 2013

Nokia to fight rivals with cheaper models: sources

COPENHAGEN (Reuters) – Finnish mobile phone maker Nokia is set to launch cheaper handset models in an attempt to fend off growing competition from Chinese rivals in the low-end market, company sources said on Friday.

The new models, due to be unveiled at the Mobile World Congress industry convention in Barcelona next week, show Nokia is expanding its focus after concentrating in the past two years on catching up with Apple and Samsung in more expensive smartphones.

Feb 22, 2013

Maersk tops profit hopes on container shipping recovery

COPENHAGEN, Feb 22 (Reuters) – A.P. Moeller-Maersk
beat annual profit forecasts and predicted its
container shipping business would benefit from a pick up in
world trade this year, helping to overshadow a warning on
falling earnings at its oil business.

The Danish group, a bellwether for global trade as its
vessels make up 14 percent of world container shipping capacity,
said on Friday its net profit rose 20 percent to $4.04 billion
last year, after it successfully raised freight prices.

Feb 12, 2013

ECB’s Constancio expects G20 floating FX commitment

HELSINKI, Feb 12 (Reuters) – The Group of 20 industrialised
nations should reaffirm their commitment to floating exchange
rates at their upcoming Moscow meeting, European Central Bank
Vice President Vitor Constancio said on Tuesday.

The G20 accounts for 90 percent of the world’s economy and
two-thirds of its population. Russia currently heads the group,
which has been split between borrowers seeking to grow out of a
debt trap and surplus countries keener on austerity.

Jan 24, 2013

Nokia axes dividend to save cash for Lumia push

HELSINKI (Reuters) – Finnish mobile phone maker Nokia plans to axe its annual dividend payment for the first time in over 20 years to shore up its cash position against falling sales.

The company, which has fallen a long way behind market leaders Samsung and Apple in the smartphone race, said on Thursday that the suspension of the dividend, which cost 750 million euros ($996 million) last year, would give it “strategic flexibility”.

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.