Finland

Investors remain justifiably twitchy about Nokia

24 Jan 2013

Full-year results from the Finnish mobile giant dampened the enthusiasm from a surprisingly strong pre-announcement two weeks ago. Microsoft’s help comes at a cost, the year’s start was typically weak, and there’s scant evidence that its smartphones are getting any U.S. traction.

What Nokia needs to do in 2013

18 Jan 2013

Shares in the ailing handset maker have bounced, but the market is rightly wary. CEO Stephen Elop must now take sales of the flagship Lumia smartphone to another level. His strategy for cheaper phones needs a rethink. And floating NSN, the network-equipment unit, would help too.

Nokia’s option value becomes a little clearer

19 Jul 2012

The handset maker made positive operating cashflow in Q2 despite aggressive, and much needed, restructuring. Nokia is looking more like a company in painful transition than one in terminal decline, and there is upside in the link with Windows. The share-price bounce is justified.

Nokia retains the power to shock

14 Jun 2012

The phone maker warned on margins, ditched managers and cut 10,000 more jobs as it widened cost cuts. It has now lost nearly 75 pct of market value, or 20 billion euros, since turnaround CEO Stephen Elop joined. At least he is being responsive. But success is still far from guaranteed.

Nokia suffers another bite from Android

11 Apr 2012

The Finnish firm’s smartphones are losing yet more ground to Apple and phones running Google’s operating system. Worse, cheap handsets using Android are now invading Nokia’s former safe havens in emerging markets. A turnaround looks less likely, and further away if it ever comes.

Finnish bolshiness follows Berlin’s bank coddling

25 Aug 2011

Finland has demanded collateral for its part of Greece’s second bailout. The attitude is divisive, but it highlights the disparity between the treatment of private and public creditors in the July deal. Finland is only asking for what Berlin gave bankers.

Finnish favouritism could unravel Greek rescue

19 Aug 2011

Greece’s bailout allows Finland to secure its loans with cash. Now other member states want the same deal, which would undermine the whole exercise. With either the rescue package or euro zone unity at stake, the EU’s biggest players may have to knock some heads together.