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Nokia to delist from German stock exchange while HTC expects flat Q4

VEE has posted a year on year drop in revenue for the first quarter of 2014

Handset manufacturers are suffering the repercussions of a poor global economic climate as Finland’s Nokia has announced that it plans to delist from the German stock exchange next year, while Taiwan’s HTC has amended its sales forecast for 4Q11.

Nokia has applied for the delisting of its shares from the Frankfurt Stock Exchange due to the decreased trading volumes of its shares at the exchange. If approved, it will be delisted in the first half of 2012.

Nokia’s trading volumes on the Frankfurt Stock Exchange have decreased during the years and currently represent only a small percentage of the total global trading volumes of the Nokia share,” the company said in a statement.

In 2003, 2004 and 2007 Nokia delisted from the stock exchanges in London, Paris and Stockholm respectively.

Nokia shares will continue to be traded within the Eurozone on the NASDAQ OMX Helsinki Stock Exchange and in the US on the New York Stock Exchange.

Meanwhile, HTC had predicted that revenues for the quarter would be up 20 to 30 per cent over 4Q10 earlier this year, but it has now revised that forecast.

The firm cited the global macro economic downturn and stiff market competition as reasons for adjusting its estimates but did not provide any updated financial information. However, market estimates suggest that the firm will see no increase in sales for the quarter over the same period last year.

The firm’s growth more than doubled in the first half of the year, but the revised forecast has seen its shares drop 7 per cent today, to their lowest in 16 months.

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