Nokia (NOK) Expected to Post Second Consecutive Quarterly Loss; Windows Phone to Debut Shortly
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Rating Summary:
20 Buy, 17 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Nokia (NYSE: NOK) is expected to report a loss for its second straight quarter, as the company struggles with lower shipments and lagging Microsoft (Nasdaq: MSFT) Windows Phone demand.
According to Bloomberg data, Nokia may report a loss of €368 million, with smartphone sales falling 41 percent to 15.7 million units.
Sales should be about €8.8 billion with adjusted profit about 15 percent below breakeven. Sales would be a 5.2 percent sequential decline and 14 percent drop from one year earlier.
Nokia is expected to debut Windows Phone at the Nokia World event in London next week.
Market share has been elusive for Nokia since the introduction of Apple's (Nasdaq: AAPL) iPhone in 2007. Having a market share of 50.8 percent at that time, according to Gartner, market share has slowly dwindled to just a 20.9 percent share as of second-quarter data.
With Nokia recently selling Symbian to Accenture (NYSE: ACN) and MeeGo now off the radar, investors are hoping Windows will shine the light on a brighter future for Nokia.
Shares are up 1.8 percent pre-market Wednesday.
According to Bloomberg data, Nokia may report a loss of €368 million, with smartphone sales falling 41 percent to 15.7 million units.
Sales should be about €8.8 billion with adjusted profit about 15 percent below breakeven. Sales would be a 5.2 percent sequential decline and 14 percent drop from one year earlier.
Nokia is expected to debut Windows Phone at the Nokia World event in London next week.
Market share has been elusive for Nokia since the introduction of Apple's (Nasdaq: AAPL) iPhone in 2007. Having a market share of 50.8 percent at that time, according to Gartner, market share has slowly dwindled to just a 20.9 percent share as of second-quarter data.
With Nokia recently selling Symbian to Accenture (NYSE: ACN) and MeeGo now off the radar, investors are hoping Windows will shine the light on a brighter future for Nokia.
Shares are up 1.8 percent pre-market Wednesday.
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