Nokia reported Thursday a second-quarter net loss of €665 million (Dh2.71 billion) due to weak demand for mobile networks and the ongoing integration of its acquired competitor Alcatel-Lucent.
The Finnish telecoms equipment maker said the loss compared with a profit of €347m a year earlier, a figure that does not include Alcatel-Lucent in the accounts.
The combined net sales of Nokia and Alcatel-Lucent were ¥5.6bn in the April-June period, compared with Nokia’s €2.9bn a year earlier when it had not yet merged with the French telecoms gear maker.
When comparing like-for-like businesses, Nokia’s revenue fell to €5.7bn from €6.4bn.
The chief executive Rajeev Suri said the company was now targeting cost savings of €1.2bn in 2018, an upgrade to the earlier announced estimate of combined Nokia and Alcatel-Lucent synergies of €900m.
Mr Suri said he was particularly worried over the declining trend in Nokia’s revenue that “reflects challenging market conditions” and he did not expect the market situation to improve in the near term.
In both North America and Europe – two of Nokia’s key sales areas – revenue dropped by 12 per cent year-on-year, while the fall was somewhat smaller in the Asia-Pacific region and China with a decline of 6 and 5 per cent, respectively.
Nokia is not the only company in the industry to suffer from meager demand as the wireless equipmemt maker Ericsson last month reported a 26 per cent drop in second-quarter profits, citing lower company investments amid a weakening global economy.
Nokia shares were down 5.5 per cent at 4.68 euros early trading in Helsinki.
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Etihad and Emirates fly direct to Kolkata from Dh1,504 and Dh1,450 return including taxes, respectively. The flight takes four hours 30 minutes outbound and 5 hours 30 minute returning.
The trains
Numerous trains link Kolkata and Murshidabad but the daily early morning Hazarduari Express (3’ 52”) is the fastest and most convenient; this service also stops in Plassey. The return train departs Murshidabad late afternoon. Though just about feasible as a day trip, staying overnight is recommended.
The hotels
Mursidabad’s hotels are less than modest but Berhampore, 11km south, offers more accommodation and facilities (and the Hazarduari Express also pauses here). Try Hotel The Fame, with an array of rooms from doubles at Rs1,596/Dh90 to a ‘grand presidential suite’ at Rs7,854/Dh443.
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Help me, oh children of mine, for in his love my life will pass me by.
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