{"id":45304,"date":"2020-07-31T10:27:09","date_gmt":"2020-07-31T10:27:09","guid":{"rendered":"https:\/\/www.mobileworldlive.com\/?p=292638"},"modified":"2020-07-31T10:27:09","modified_gmt":"2020-07-31T10:27:09","slug":"nokia-hit-by-china-covid-woes-as-suri-departs","status":"publish","type":"post","link":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/2020\/07\/31\/nokia-hit-by-china-covid-woes-as-suri-departs\/","title":{"rendered":"Nokia hit by China, Covid woes as Suri departs"},"content":{"rendered":"

<\/p>\n

\tNokia estimated it took a \u20ac500 million short-term hit due to the Covid-19 (coronavirus) pandemic which, combined with a decline in China, led to a revenue dip in outgoing boss Rajeev Suri’s (pictured) final results announcement.<\/p>\n

The Finnish vendor posted revenue of \u20ac5.1 billion, down 11 per cent year-on-year, although it did swing to a profit of \u20ac85 million from a \u20ac191 million loss.<\/p>\n

Suri, who will hand the reins to incoming boss Pekka Lundmark from tomorrow [1] (1 August), said the company delivered \u201cbetter than expected profitability\u201d, with clear indications of \u201ca return to strength in mobile radio\u201d.<\/p>\n

Bit it had to factor in the effects of the health pandemic, which hit net sales in the quarter by approximately \u20ac300 million, adding to a \u20ac200 million impact in Q1.<\/p>\n

On revenue, Suri said it expected the majority of sales missed in the quarter due to Covid-19 would shift to future periods, while the decline in China was based \u201con the prudent approach [2] we have taken in that market\u201d.<\/p>\n

\u201cWe also saw a reduction driven by our proactive steps to reduce the volume of low margin services business,\u201d he explained.<\/p>\n

Optimism
\nNet sales from its Networks business dropped 10 per cent to \u20ac4 billion. There were also declines across its other units, with Software down 10 per cent to \u20ac597 million and Technologies 12 per cent lower at \u20ac341 million.<\/p>\n

For Networks and Software, the company said it underperformed due to lower infrastructure deployment services within mobile access and increased competition, however it expects an uplift at the end of the year as 5G demand increases.<\/p>\n

Suri added the company continues to make progress in mobile access, explaining it made improvements with its radio portfolio, where roadmaps \u201care strengthening, costs are coming down and product performance is rising\u201d.<\/p>\n

[1] https:\/\/www.mobileworldlive.com\/featured-content\/top-three\/next-nokia-boss-to-arrive-early
\n[2] https:\/\/www.mobileworldlive.com\/featured-content\/home-banner\/nokia-loses-out-on-china-unicom-telecom-5g-sa-deal<\/p>\n\n

\\\"IT\u96fb\u8166\u88dc\u7fd2
\u7acb\u523b\u8a3b\u518a\u53ca\u5831\u540d\u96fb\u8166\u88dc\u7fd2\u8ab2\u7a0b\u5427!<\/figcaption><\/figure>\r\n<\/br>Find A Teacher Form:\r\n<\/br>https:\/\/docs.google.com\/forms\/d\/1vREBnX5n262umf4wU5U2pyTwvk9O-JrAgblA-wH9GFQ\/viewform?edit_requested=true#responses\r\n<\/br><\/br>Email:\r\n<\/br>public1989two@gmail.com






\r\nwww.itsec.hk<\/a>
\r\nwww.itsec.vip<\/a>
\r\nwww.itseceu.uk<\/a>
<\/p>","protected":false},"excerpt":{"rendered":"

Nokia estimated it took a €500 million short-term hit due to the Covid-19 (coronavirus) pandemic …<\/p>\n

The post Nokia hit by China, Covid woes as Suri departs<\/a> appeared first on Mobile World Live<\/a>.<\/p>\n<\/div>","protected":false},"author":247,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"slim_seo":{"title":"Nokia hit by China, Covid woes as Suri departs - ITTeacherITFreelance.hk","description":"Nokia estimated it took a €500 million short-term hit due to the Covid-19 (coronavirus) pandemic ... The post Nokia hit by China, Covid woes as Suri depart"},"footnotes":""},"categories":[11,8],"tags":[],"_links":{"self":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/45304"}],"collection":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/users\/247"}],"replies":[{"embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/comments?post=45304"}],"version-history":[{"count":1,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/45304\/revisions"}],"predecessor-version":[{"id":45307,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/45304\/revisions\/45307"}],"wp:attachment":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/media?parent=45304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/categories?post=45304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/tags?post=45304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}