HELSINKI (Reuters) – Nokia shares jumped on Monday as fears eased over a slump in a phone demand after signs of strong Black Friday sales in the United States, coupled with loss-making Nokia Siemens Networks (NSN) dismissing some expectations it would need to raise more money from its parents.
Initial signs of the sales on Black Friday — the kick-off of the U.S. holiday shopping season — were good, boosting gadget makers’ stocks across the board, and pushing aside fears the economic downturn would hit the smartphone industry badly.
HELSINKI/FRANKFURT, Nov 27 (Reuters) – Struggling
Nokia Siemens Networks (NSN), the world’s
second-largest maker of mobile phone network equipment, cannot
expect any more cash injections from its two parent companies,
chief executive of the venture said in a letter to employees.
Parents Nokia and Siemens have
provided capital “for the last time” and expect this investment
will provide results, according to a copy of a letter sent from
CEO Rajeev Suri to NSN’s 74,000 employees, which was obtained
By Tarmo Virki, European Technology Correspondent
(Reuters) – German patent firm IPCom plans to halt as quickly as possible the sale of all HTC smartphones in Germany, another blow to the Taiwanese firm just two days after it shocked markets by cutting its fourth-quarter outlook.
IPCom said on Friday it would enforce an injunction based on a Mannheim court decision from February 2009 after HTC, the fourth largest smartphone vendor globally, withdrew its appeal, which was due to be decided on next week.
HELSINKI (Reuters) – Struggling telecoms gear maker Nokia Siemens Networks is to axe 17,000 jobs, or 23 percent of its workforce, to save about 1 billion euros ($1.35 billion) a year.
The venture of Finnish group Nokia and German conglomerate Siemens will now focus on mobile broadband gear and services.
BARCELONA (Reuters) – The semiconductor industry is looking at first signs of recovery as it struggles to clear inventories of unsold chips stemming from a slowdown in consumer spending, industry executives said on Thursday.
The industry hit a slump as demand for consumer gadgets has slowed in Europe and elsewhere due to economic uncertainties at a time when vendors have invested heavily in the new production gear.
BARCELONA (Reuters) – French chipmaker STMicroelectronics (STM.PA: Quote, Profile, Research, Stock Buzz) expects inventory correction hampering the industry to continue into early 2012 and to return to normal business conditions in the second quarter.
The semiconductor industry has hit a slump as demand for consumer gadgets has slowed in Europe and elsewhere due to economic uncertainties at a time when vendors have invested heavily in the new production gear.
BARCELONA (Reuters) – Top European IT services providers Atos (ATOS.PA: Quote, Profile, Research, Stock Buzz) and Capgemini (CAPP.PA: Quote, Profile, Research, Stock Buzz) said on Thursday they were optimistic on outlook with customers continuing to invest despite macroeconomic worries in many European markets.
“We are quite confident… we intend to go back to growth in 2012,” Atos senior executive vice president Gilles Grapinet told an investor conference in Barcelona.
BARCELONA (Reuters) – Chip designer ARM (ARM.L: Quote, Profile, Research, Stock Buzz) said it was optimistic that reductions in inventory by device makers which is dampening demand for semiconductors would be short-lived, bolstering its confidence in its own outlook for 2012.
“We are seeing some ARM licensees looking beyond that and the body language is more positive than a quarter ago,” Chief Executive Warren East said on Thursday.
BARCELONA (Reuters) – Nokia plans to undercut its Windows Phone rivals to give its new smartphones a foothold in the market before trying to improve margins, its Chief Executive Stephen Elop said on Wednesday.
Nokia unveiled a strategy shift to use Microsoft software on its smartphones in February in a bid to create a rival to Apple and Google’s Android, and launched its first two models using it last month.
BARCELONA, Nov 16 (Reuters) – Former Belgian telecoms
monopoly Belgacom does not need to grow via mergers
and acquisitions and a deal with Dutch peer KPN remains
impractical, Belgacom Chief Executive Didier Bellens said on
“We don’t need M&A,” Bellens said. “We have a lot to do
internally to improve our top line and core profit.”