Telecom & Wireless
Nokia (NOK) Sucks More Air Out Of The Handset Room (AAPL)(MOT)(RIMM)
Published:
Nokia (NOK) had a stronger second quarter than most people expected. According to The Wall Street Journal, "Nokia said sales rose to €13.15 billion from €12.59 billion. Analysts expected sales of €12.86 billion."
Just as important, Nokia’s global market share rose to 40% from 39% last year and the company shipped 122 million handsets. A great deal of the improvement came due to sales of units in India and China.
This is not exactly good news for companies like Motorola (MOT), RIM (RIMM), and Apple (AAPL). The US and EU are becoming modest to zero growth markets for handsets. Improving prospects in the areas where they market most of their products won’t be of any help this year.
Because of its existing trouble, the Nokia news is probably worst for Motorola. It has never replaced its hit product, the RAZR. The iPhone and Blackberry are taking the high end of the market. Samsung has taken a lot of the middle market.
The earnings news signals one other thing. Getting sales for the new iPhones and Blackberry products will not be a cake walk.
Douglas A. McIntyre
Is Your Money Earning the Best Possible Rate? (Sponsor)
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
