Tag Archives: Nokia
FILE PHOTO: The Alcatel Lucent logo is seen in Calais, France, September 7, 2016. REUTERS/Charles Platiau
HELSINKI (Reuters) – Finnish network equipment maker Nokia said on Friday it was looking into transactions at its former French rival Alcatel-Lucent which it acquired in 2016, after reporting possible compliance issues at the unit to U.S. authorities.
Shares were down 8.2 percent by 1127 GMT, on track for worst day since October 2017 and bottom of the pan-European STOXX 600 index.
“The last night comment on possible fines stemming from business transactions of Alcatel-Lucent is hurting the stock, the market is really sensitive about Nokia these days,” said Kimmo Stenvall, analyst at OP Markets.
Nokia said certain practices relating to compliance issues at the former Alcatel-Lucent business had raised its concerns during the integration process.
“To ensure complete compliance we are now scrutinizing certain transactions in the former Alcatel-Lucent business and although this investigation is in a relatively early stage, out of an abundance of caution and in the spirit of transparency, Nokia has contacted the relevant regulatory authorities regarding this review,” Nokia said in an emailed statement to Reuters.
Nokia said it had voluntarily reported the matter to the relevant regulators, and it was cooperating with the authorities to resolve the matter.
“The resolution of this matter could result in potential criminal or civil penalties, including the possibility of monetary fines, which could have a material adverse effect on our business, brand, reputation or financial position,” it said in a filing to the U.S. Securities and Exchange Commission.
Reporting by Anne Kauranen and Tarmo Virki, editing by Louise Heavens
This stark, minimalist device is a hybrid between an analog watch and a smart one. It looks like an elegant fashion accessory, but connects to the Nokia Health app on your phone to show stats like your heart rate, steps, and distance traveled. It’s simple and slim, with a velvety silicone band, and can transition from surfing to a wedding brunch without skipping a beat. And, at $ 180, it is one of the most affordable fitness trackers out there.
BARCELONA/HELSINKI (Reuters) – Seeking to capitalise on their comeback over the past year, the makers of Nokia phones are expanding to include a premium Android smartphone, their first, and a remake of one of its biggest hits of the 1990s, the 8110 “slider” phone.
Set up by ex-Nokia executives who have licensed the famous brand, HMD Global — as the year-old company is known — has focused on mid-priced Androids and even sub-$ 100-priced phones since entering the smartphone market.
Chief Executive Florian Seiche said HMD has sold around 30 million phones after introducing 11 new phone models over the past year. On Sunday, it announced two new models, plus refreshed versions of three phones first offered last year.
“We feel great about the momentum we had in 2017 and that gives us the confidence to double down in 2018,” Seiche told reporters at a briefing in London ahead of the product launch.
Mobile phone market tracker Counterpoint Research said Nokia phones surged during 2017 to become the world’s No. 1 seller of low-cost feature phones and No. 11 in smartphones after only entering the market last year. On a combined basis, Nokia now ranks as the No. 6 mobile phone seller, Counterpoint calculates.
HMD’s strategy is to use distribution partnerships with 600 top mobile operators and retailers in selected markets around the world to offer reliable, affordable products with the latest innovations, plus monthly Google security updates on all phones.
Europe remains the biggest region for Nokia phones sales, Seiche said; India, Russia and Indonesia are its biggest country markets.
The Nokia 8 is the company’s flagship phone, priced at 749 euros ($ 920.75) and designed to compete with Samsung’s and Huawei’s premium models. A new, 4G-ready version of Nokia’s 8110 is priced at 79 euros ($ 97).
Nokia 8 is available in April, the revamped 8110 in May. The 1990s throwback model comes in two colour choices, classic black or banana yellow, a play on how its keyboard slid out, inspiring the nickname “banana phone”.
Nokia Corp, once the world’s dominant phone maker, sold its handset business to Microsoft in 2014 and is now focused on telecom network equipment.
HMD took over the Nokia feature phone business from Microsoft in 2016 and struck a deal with Nokia Oyj to use the brand on smartphones.
Editing by Larry King
HELSINKI (Reuters) – Nokia is still reviewing its options for its undersea cables unit, a business that underpins the global Internet, chief executive Rajeev Suri said on Thursday.
Reuters reported in May that Nokia was planning to sell the ASN division, which is one of the top suppliers of undersea cable networks in the world and is valued at 800 million euros ($ 944 million).
“We are still in the middle of our strategic review which we have set for ASN, so there’s no update,” Suri told a conference call.
Some analysts had expected a decision on the unit alongside the release of Nokia’s interim report released on Thursday.
The unit was bought by Nokia last year as part of its 15.6 billion-euro ($ 17 billion) acquisition of Franco-American rival Alcatel-Lucent.
($ 1 = 0.8471 euros)
Reporting by Jussi Rosendahl, editing by Terje Solsvik