news: NOKIA Reports earnings Down, But Releasing 14 New Phones In The Future

Jorma Ollila, NOKIA Chairman & CEO, was live with CNBC Friday morning from
Helsinki Fiinland The following is what I caught at the tale end of his
conversation. They have announced that their earnings for the this quarter
was down 15%. He also stated that they realize that this was partially due
to an "incomplete" product lineup. When asked what we could be expecting
from NOKIA in the near future, he said that 14 new models are due to be
introduced over the remaining quarters. The reporter asked if they were
adressing the claim that they are weak on "Flip Phones" he advised that
there will be a few of the folding "clamshell" form factor to be released
soon. When asked if they will be following Samsung, who has sucsessfully
developed and is selling some higher end phones, he replied they realized
this and will be getting stronger in the Mid to Hi-End segment.

Was live on CNBC on Friday AM at 6:00am EST.

This from Reuters: NOKIA Warns of Weak Earnings
HELSINKI (Reuters) - Top mobile phone maker Nokia warned on Friday
second-quarter earnings would fall and sales could also drop as it continues
to struggle with a patchy handset portfolio and fierce competition.
Nokia said second-quarter earnings per share (EPS) would be 0.13-0.15 euros,
below the underlying figure of some 0.19 euros from a year ago and below all
expectations in a Reuters poll that called for an EPS of 0.18 euros.

The outlook confirms analysts' fears that Nokia, which makes more than one
in three handsets sold globally, could lose more market share to rivals like
U.S. Motorola and Korea's Samsung Electronics, which earlier on Friday
posted record earnings.

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