| Nokia's Q1 2012 financials: $9 billion in sales can't stop a $1.7 billion loss Apr 19th 2012, 10:05  Nokia's released the bundle of spreadsheets that comprise its 2012 Q1 financials, just a week after it acknowledged that it would make a loss, despite bullish sales of the new Lumia 900. The numbers reveal that the company had net sales of €7.4 billion ($9.7 billion), down from €10.4 billion ($13.6 billion) at the start of last year. Net sales are down 30 percent year-on-year, which means the company's posting a loss of €1.3 billion ($1.7 billion) for the first three months of 2012. That loss is broken down as €772 million to restructure Nokia Siemens Networks, €101 million to restructure the Devices & Services and Location & Commerce departments, principally in shedding employees and relocating its factories to Asia. It had forecasted an operating margin of three percent below "break even," and says it's likely to remain that way well into the second quarter. Stephen Elop pointed out that much of the loss is due to both increased competition and the costs of restructuring, but also seemed to tacitly confirm rumors we'd heard that UK carriers have been resistant to Nokia's new direction, saying that establishing momentum in the country has been "challenging." However, it's still promising to arrest the slump and in a statement to Moody's on Monday, the company pledged that it was prioritizing "cash conservation" exercises, although its liquid cash reserves have fallen 24% in a year, meaning that the company's only got €4.8 billion ($6.3 billion) put aside for a rainy day. Nokia's Q1 2012 financials: $9 billion in sales can't stop a $1.7 billion loss originally appeared on Engadget on Thu, 19 Apr 2012 06:05:00 EDT. Please see our terms for use of feeds. Permalink |  Nokia (PDF) | Email this | Comments | | Spotify previews overhauled Android app Apr 19th 2012, 10:00  We'll be the first to admit that we were a little disappointed when yesterday's "special announcement" turned into a bit of a Coca-Cola / Spotify lovefest. And while it's not the iPad app that many iOS music lovers have been clamoring for, Android users have a Spotify-related reason to rejoice this morning. The service's app is getting an overhaul for Google's mobile OS, a full redesign that includes, among other things, full support for Ice Cream Sandwich. Also on the Android docket are new navigation, added social features and hi-res artwork. The app is currently available as a preview. Spotify's promising even more features -- like Last.fm scrobbling -- before it hits the Google Play store. No word yet on exactly when that might be. Spotify previews overhauled Android app originally appeared on Engadget on Thu, 19 Apr 2012 06:00:00 EDT. Please see our terms for use of feeds. Permalink | | Email this | Comments | | Toshiba pushes AT270 Tegra 3 tablet through the FCC, gets Excited Apr 19th 2012, 09:01  If a pair of hands-on treatments and an official press release somehow aren't enough to convince you that Toshiba's 7.7-inch slate is ramping up to a public debut, take it from the government: the Excite 7.7 just hit the FCC. This thin (0.3-inch) Tegra 3 tablet sauntered through CES without so much as a model number, eventually picking up the name AT270 at Mobile World Congress and finally snagging itself a spot in Toshiba's Excite series earlier this month. Its siblings are making their way through the FCC as well, offering 10 and 13-inch variations on the $500 slab. Salivating? Keep your mouth closed, this little number doesn't hit stores until June 10th. Of course, if Federal documents can satiate your appetite, satisfaction is but a source link away. Toshiba pushes AT270 Tegra 3 tablet through the FCC, gets Excited originally appeared on Engadget on Thu, 19 Apr 2012 05:01:00 EDT. Please see our terms for use of feeds. Permalink | FCC | Email this | Comments | |
