ADVFN - Advanced Financial Network.
HOME» NYSE » N » NOK Stock Price » NOK Stock News

Nokia Share News

 Nokia Corp. Stock Price
NOK Stock Price
 Nokia Corp. Stock Chart
NOK Stock Chart
 Nokia Corp. Stock News
NOK Stock News
 Nokia Corp. Company Information
NOK Company Information
 Nokia Corp. Stock Trades
NOK Stock Trades

Nokia Siemens Reiterates EUR1 Billion Cost Saving Target

HELSINKI -(Dow Jones)- Finnish-German network equipment vendor Nokia Siemens Networks (NOK, SI) reiterated its EUR1 billion cost cutting target Thursday, rebuffing a media report that it had doubled that target. "We have always stated that we're looking for an annualised operating cost reduction of EUR1 billion by the end of 2013," Nokia Siemens Networks spokesman Ben Roome told Dow Jones Newswires. The comment came after Financial Times Deutschland reported that the company seeks to reduce annual costs by EUR2 billion, citing unidentified persons close to the company. The report didn't give a time frame for the cost reduction target. Nokia Siemens Networks said in November it would cut 17,000 jobs globally by the end of 2013, and restructure its business in an effort to reach sustainable profitability. The joint venture started operations in 2007 and has been struggling in the face of tough competition ever since. The NSN spokesman said he "was not certain" whether Nokia Siemens Networks would update its EUR1 billion target on April 19, the day when its troubled parent Nokia Corp. (NOK) is scheduled to present first-quarter earnings. On Thursday, Nokia issued a profit warning its operating margin would be negative by about 3% in the first quarter of the year, due to harsh competition, adding it doesn't expect any improvement in the second quarter. Nokia has so far announced plans to shed around 14,000 job cuts since last February's decision to adopt Microsoft Corp.'s (MSFT) Windows Phone operating system in all its new smartphones and phase out its aging Symbian platform, a move it says will help it regain market share after struggling to compete with Apple Inc.'s (AAPL) iPhone and smartphones that use Google Inc.'s (GOOG) Android software. -By Arild Moen, Dow Jones Newswires; +358-45-2059 755; arild.moen@dowjones.com

Stock News for Nokia (NOK)
DateTimeHeadline
03/31/201508:01:02Will This Startup "Put a Bullet" in Google Inc.'s Head?
03/30/201508:03:02Will Apple Inc. Compete Against Google Glass and Microsoft Corp.'s...
03/18/201521:28:02Tech Stocks: 2 to Avoid, and 1 to Buy
03/18/201513:20:01The Biggest Red Flag for Mobile Investors
03/11/201515:25:25Ericsson to Cut 2,200 Jobs -- Update
03/10/201501:13:21Canaccord: Nokia's licensing guidance understates growth potential
03/06/201500:34:16Nokia Is Preparing For Its Android Future
03/03/201519:06:55DoCoMo working with Huawei, Nokia, others on 5G
03/02/201515:28:08Microsoft Plays Waiting Game in Smartphone Race -- Update
03/02/201511:44:34Microsoft Plays Waiting Game in Smartphone Race
02/27/201506:30:54Wall Street Breakfast: Greek Bailout Extension Clears German...
02/25/201518:24:31In Mobile, Disruption Comes From Above
01/29/201505:37:21Nokia Profit Rises, Licensing Revenue Disappoints--Update
01/27/201513:21:39Ericsson Hurt by North American Slowdown -- 2nd Update
01/26/201517:39:37Microsoft's Profits Fall On Higher Costs -- 3rd Update
01/26/201517:23:00Microsoft's Profits Fall On Higher Costs -- 2nd Update
01/26/201517:05:13Microsoft's Profits Fall On Higher Costs -- Update
01/26/201516:53:14Microsoft's Profits Fall On Higher Costs
12/29/201407:38:29Foxconn India Workers Arrested
11/19/201413:34:33Shell Wins Tax Dispute in India -- Update

Nokia and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad