Nokia Corporation (ADR)(NYSE:NOK) continued to post more
losses as the company has been witnessing decreased demand for its mobile
phones due to increased competition from its rival Apple Inc.’s (NASDAQ:AAPL) iPhone
and Google Inc’s (NASDAQ:GOOG) android phones.
Can NOK rebound After
Earnings, Get
Trend Analysis for Free HERE
For the second quarter, the struggling company posted net
loss of 1.41 billion euros or 0.38 euros per share, wider from a year ago loss
of 368 million euros or 0.10 euros per share.
On a non-IFRS basis, loss attributable to equity holders of
the parent for the quarter was $315 million euros or 0.08 euros per share, as
against a 239 million euros or 0.06 euros per share profit a year before.
The company has been unable to regain its lost glory in the
smartphone market as users are more comfortable with iPhone and other
smartphone. Apple’s iPhone has gained more demand due to its user friendly and
regular updates supported by several Apps, which provides add on to its users.
Find Out Our Complete
Analysis on The
Smartphone Industry
Not only Nokia, other companies Samsung and Research In
Motion Limited (USA)(NASDAQ:RIMM) have been struggling as well and shares of
those companies have been trading at multi year low, while shares of AAPL have
been trading near to its life time high and has become the world’s largest
company.
Shares of NOK have slipped a decade low of $1.63 in the previous
trading session. However, in the pre-market session, the stock is trading
higher by 8% to $1.87.
Can AAPL Hit $1000
Mark by the end of this year? Get our
Shocking report for FREE HERE
Let’s have a look at the performance of mobile companies
shares so far this year :-
No comments:
Post a Comment