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Nokia Interim Report – Q1 2014, ‘Rajeev Suri’ – the CEO of new Nokia

Nokia’s Q1 2014 Interim Report is definitely not one of the best if we consider the discontinued operation of ‘Devices & Services’ which is now in Microsoft’s kitty. Barring which the future of new Nokia under the just announced CEO, Rajeev Suri does indeed look promising.

Moving ahead Nokia’s business will constitute of Networks, HERE & Technologies.

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End of Legacy (25 Apr 2014) – Nokia completes sale of ‘Devices & Services’ business to Microsoft

25th Apr 2014 – A date to remember ..

Well not feeling really good to write about this topic but things change with time & same is the case with Nokia. One has to move on in life & that is what Nokia is exactly doing with a positive approach & we appreciate it.

‘NokiaTheOne’ started about year & a half back when Nokia had already taken the Windows Phone route & talks in the air suggested a lot many things, despite all this, we decided to keep ‘Nokia’ at the center stage in naming of our Blog & feel really proud about it and will continue to do so.

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Nokia Interim Report for Q3 2013 & Jan – Sept 13, ‘8.8 Million Lumias’ and ‘5.9 Million Ashas’ sold in Q3 2013.

Today Nokia released its interim report for the Quarter ending Sept 13 as well for the period from Jan 13 – Sept 13 and some of those figures might make you happy.

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Nokia holding a media briefing event in India on 26th Sept .. will launch Nokia Lumia 1020 !

Nokia India is sending out press invites to media & bloggers about a media briefing event scheduled on 26th Sept. The event will see the much awaited Nokia Lumia 1020 launch in India & I am feeling jealous of the guys who would be getting to see & review it one to one :).

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NOKIA, the company we love the most.

The company that built the world of Tele-communication around us .. the company that connected people world-wide .. the company that built your first phone .. the company that has always been on the fore-front of innovation and the company that always showed humane touch, NOKIA, will soon be not there (in phones).

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Amsterdam district court grants Nokia preliminary injunction against HTC One in Netherlands over use of Microphone Tech

Well it seems that HTC has once again lifted Nokia‘s innovation & put it on its latest flagship device none other than the HTC One. The innovation being referred to here is the use of HAAC Microphones as Nokia calls it. It was found that HTC is using the same High-amplitude mics on HTC One which were invented & developed by Nokia and found to be used on Nokia Lumia 720.

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Nokia Q1 2013 Interim Report – ‘Fight back continues’, Lumia Grows to 5.6 Million units, Asha dips to 5.0 Million units.

The fight back from Nokia continues in Q1 2013.

Here are some facts & figures from the Q1 2013 Interim Report.

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Nokia Financial Report Q4 2012 – $585 Million Profit, 4.4 Million Lumia’s Sold & an increased Net Cash Reserve of $5.8 Billion

I have been pretty busy over the last few days so pardon me for lesser number of posts, next few days will also be the same however I intend to cover all the news that broke recently all in a single day and much more. So stay tuned.

For now, let’s have a look at Nokia’s financial report for Q4 2012.

Straight from Nokia,

Fourth quarter 2012 highlights:
Nokia Group non-IFRS EPS in Q4 2012 was EUR 0.06; reported EPS was EUR 0.05.

  • Nokia Group achieves underlying operating profitability, with Q4 non-IFRS operating margin of 7.9%.
  • Nokia Group strengthened its net cash position by approximately EUR 800 million sequentially, of which approximately EUR 650 million was generated by Nokia Siemens Networks.
  • Devices & Services Q4 non-IFRS operating margin improved quarter-on-quarter to 1.3%, due to an increase in gross margin as well as a decrease in operating expenses.
  • Nokia Siemens Networks non-IFRS operating margin improved quarter-on-quarter and year-on-year to a 14.4% in Q4, the highest level of underlying operating profitability since its formation in April 2007, primarily due to an increase in gross margin.

Full year 2012 highlights:
Nokia Group full year 2012 non-IFRS EPS was EUR -0.17; reported EPS was EUR -0.84.

  • Nokia Group achieves underlying operating profitability, with full year 2012 non-IFRS operating margin of 0.4%.
  • Nokia Group ends 2012 with a strong balance sheet and solid cash position. Gross cash was EUR 9.9 billion and net cash was EUR 4.4 billion, after incurring cash outflows related to restructuring of approximately EUR 1.5 billion and dividend payment of approximately EUR 750 million.
  • To ensure strategic flexibility, the Nokia Board of Directors will propose that no dividend payment will be made for 2012 (EUR 0.20 per share for 2011). Nokia’s Q4 financial performance combined with this dividend proposal further solidifies the company’s strong liquidity position.

What Stephen Elop, Nokia CEO said,

“We are very encouraged that our team’s execution against our business strategy has started to translate into financial results. Most notably we are pleased that Nokia Group reached underlying operating profitability in the fourth quarter and for the full year 2012.

While the first half of 2012 was difficult for Nokia Group, in Q4 2012 we strengthened our financial position,
improved our underlying operating margin in Devices & Services, introduced the HERE brand to expand our mapping and location experiences, and drove record profitability in Nokia Siemens Networks.

We remain focused on moving through our transition, which includes continuing to improve our product
competitiveness, accelerate the way we operate and manage our costs effectively. All of these efforts are aimed at improving our financial performance and delivering more value to our shareholders.”

Summary,

Nokia Financial Information Summary 2012

I will try to break this in to something meaningful in our future posts.
For now wish you a happy day & yeah ‘hang on’ .. Nokia is making a come-back !! 🙂

Source – Nokia Report

Nokia releases preliminary Financial Report for Q4 2012 – Beats expectations, Achieves underlying Profitability, Lumia sales exceeds Symbian, Asha leads !

In a rather surprising move, Nokia has officially released its Preliminary Financial information for Q4 2012 & Preliminary Outlook for Q1 2103.

According to Press Release,

Nokia now estimates that Devices & Services has exceeded expectations and achieved underlying profitability in the fourth quarter 2012.
– Mobile Phones business unit and Lumia portfolio delivered better than expected results; and
– Operating expenses were lower than expected.
– Devices & Services non-IFRS operating margin for the fourth quarter 2012 now expected to be between break even and positive 2 percent.

Seasonality and competitive environment are expected to have a negative impact on the first quarter 2013 underlying profitability for Devices & Services, compared to the fourth quarter 2012.

Nokia also estimates that Nokia Siemens Networks has exceeded expectations for the fourth quarter 2012, delivering record underlying profits and a third consecutive quarter of underlying profitability.
– Strong performance in higher margin product categories and geographic regions; and
– Better than expected cost management.
– Nokia Siemens Networks non-IFRS operating margin for the fourth quarter 2012 now expected to be between 13 and 15 percent.

Seasonality is expected to have a negative impact on the first quarter 2013 underlying profitability for Nokia Siemens Networks, compared to the fourth quarter 2012.

Some details,

Nokia estimates Total Device sales to be 86.3 million units (Devices & Services contributing to EUR 3.9 Billion)

  • Total Mobile phone sales account for 79.6 million units (EUR 2.5 Billion).
  • Of the total Mobile phone sales, Asha are 9.3 million units.
  • Total Smartphone sales account for 15.9 million units
  • Nokia considers Asha series as Smartphones & hence are included in the above 15.9 million units.
  • Smartphone sales breakup, Asha – 9.3 million, Lumia – 4.4 million & Symbian – 2.2 million.

According to Nokia,

Nokia currently estimates that Devices & Services non-IFRS operating margin for the fourth quarter 2012 was between break even and positive 2 percent, which compares to the previous outlook of approximately negative 6 percent, plus or minus four percentage points.

Stephen Elop (Nokia CEO) commented,

“We are pleased that Q4 2012 was a solid quarter where we exceeded expectations and delivered underlying profitability in Devices & Services and record underlying profitability in Nokia Siemens Networks. We focused on our priorities and as a result we sold a total of 14 million Asha smartphones and Lumia smartphones while managing our costs efficiently, and Nokia Siemens Networks delivered yet another very good quarter.”

However Nokia states that 1st Quarter of 2013 will be different & warns of a negative operating margin as below,

Nokia expects its non-IFRS Devices & Services operating margin in the first quarter 2013 to be approximately negative 2 percent, plus or minus four percentage points. This outlook is based on Nokia’s expectations regarding a number of factors, including:
– competitive industry dynamics continuing to negatively affect the Smart Devices and Mobile Phones business units;
– the first quarter being a seasonally weak quarter;
– consumer demand, particularly for our Lumia and Asha smartphones;
– continued ramp up for our new Lumia smartphones;
– expected cost reductions under Devices & Services’ restructuring program; and
– the macroeconomic environment.

You can refer the entire press release here

http://press.nokia.com/2013/01/10/nokia-exceeds-previous-q4-2012-outlook-for-devices-services-and-nokia-siemens-networks/

Source – Nokia

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