financial results

Ericsson holds steady despite loss on rollouts

Ericsson’s first quarter profits fell year on year to SEK1.2bn (€139m) from SEK8.8bn for the same period in 2012, largely due to the boost given to 1Q12 numbers by the firm’s exit from the Sony Ericsson device JV. While the vendor recorded a two per cent uptick in sales to SEK52bn it was hit by currency fluctuations and a disappointing performance from its network rollout business.

China Unicom grows data usage with low-cost devices

Chinese operator China Unicom has announced a 92 per cent year on year increase in mobile data usage, attributing the growth in part to the availability of low-cost smarpthones. In an earnings release posted late last week, Unicom referenced an improvement in its smartphone “quality to price ratio”.

Vodafone records 1H loss of £1.89bn

Vodafone has announced a loss of £1.89bn for the six months to the end of September 2012 on the back of write downs for its Spanish and Italian operations totaling £5.9bn. The international operator recorded a profit of £6.64bn for the same period in 2011 and chief executive Vittorio Colao said the 1H12 results reflected “tougher market conditions, mainly in Southern Europe”.

ZTE gives first-half profit warning

Chinese infrastructure vendor ZTE has warned that its first half profit is on course to drop up to 80 per cent in 2012, blaming reduced investment income, losses from foreign exchange and a drop in domestic revenue. The Shenzhen firm said that its first-half net income for the year may be between 154m yuan ($24m) and 308m yuan, in a Hong Kong stock exchange filing. The firm recorded an income of 769.3m yuan in the same period last year.

Everything Everywhere rues impact of MTR cuts

Everything Everywhere, the company formed by the merger of Orange and T-Mobile in the UK, has posted a drop in service revenue of 2.5 per cent to reach £1.5bn in its first quarter earnings statement.

Nokia warns of losses in face of “competitive industry dynamics”

Finnish handset vendor Nokia has announced that is expecting to report a loss for the first two quarters of 2012. In a statement released Wednesday the firm blamed “competitive industry dynamics” for damaging net sales for its Mobile Phones and Smart Devices business units, particularly in the Middle East and Africa, India and China.

RIM reports plunge in income and delays to products

Beleaguered Blackberry maker RIM reported more bad news as the firm saw its net income plunge by almost three-quarters to just $265m in the third quarter of 2011. The figure is a 71 per cent drop from the $911m it recorded in 3Q10, and was impacted in large part by a $485m pre-tax charge related to unsold PlayBook tablets.

RIM sees profit slashed by more than half

RIM’s has seen its profits slide to less than half of what it generated in the previous quarter, and to little over 40 per cent of what it made in the same quarter last year. The company’s quarterly earnings for 2Q11 revealed that its net income for the quarter was $329 million. This marks a steep drop from the $695 million it recorded in 1Q11, an even steeper fall from the $797 million made in 2Q10.

ZTE half-year profit drops 12%

Chinese vendor ZTE has announced that its first half profit has fallen 12.4 per cent year on year, to RMB768.5m ($119.7m). The firm attributed the drop in profit to its “market share expansion strategy, a change in product structure and pending software VAT refund subsidies.”

RIM to lay off 2,000 staff

Canadian vendor Research In Motion has announced that it is to lay off 2,000 staff as part of the cost-cutting programme the firm unveiled in June. The Blackberry manufacturer said that the cuts, which will affect more than ten per cent of its workforce, were “a prudent and necessary step for the long-term success of the company.”

Nokia warns of poor performance, withdraws financial targets

Troubled Finnish handset vendor Nokia has said that it will not hit its sales or margin targets for the second quarter of 2011 due to a range of factors impacting negatively on its business. The firm said its difficulties are such that it was “no longer appropriate to provide annual targets for 2011.”

Apple posts another record quarter as Cook raises doubts over LTE iPhone

Cupertino based computer, handset and tablet manufacturer Apple has posted yet another record quarter, raking in second quarter revenue of US$24.67b, producing a net profit of US$5.99b. This was achieved with sales of 3.76m Mac computers, a 28 per cent increase over the year-ago quarter, and 18.65m sales of iPhones, representing growth of 113 per cent.

Sony Ericsson posts fourth consecutive quarterly profit

Handset vendor Sony Ericsson has reported net profit of €8m for the Q4 2010, marking its fourth consecutive quarter in profit. Net income for full year 2010 was €90m, the firm said, compared to a loss of €836m for 2009. President and CEO Bert Nordgberg described 2010 as “a turnaround year” for Sony Ericsson, and attributed improvements in the firm’s fortunes to its “shift towards an Android-based smartphone portfolio.”

RIM turns in record quarter

Canadian smartphone vendor Research In Motion has reported record results for the third quarter of its 2011 fiscal year, with shipments of its Blackberry devices growing 40 per cent year on year to 14.2 million devices. Revenues were up by the same degree, hitting $5.49bn compared to $3.29bn for the third financial quarter of 2010, and there was a sequential improvement on the second quarter of 19 per cent.

Sony Ericsson turnaround continues with Q2 numbers

Handset vendor Sony Ericsson achieved its second consecutive profitable quarter, posting net income of €12m for the second quarter of 2010. In the same quarter last year the firm made a loss of €213m, while in Q1 2010 the firm recorded net profit of €21m. Revenues were also up, at €1.76bn, compared to €1.68bn for Q209 and €1.4bn for Q1 this year.

Ericsson Q1 profits slide by 30 per cent

Swedish infrastructure vendor Ericsson has reported a 30 per cent drop in profits for the first quarter of this year, netting SEK1.3bn ($180m) for the three months to end March, compared to SEK1.8bn for the same period in 2009. CEO Hans Vestberg said a slowdown in infrastructure sales was partly to blame, and the firm was also impacted by ongoing restructuring costs.

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