The insurer will ultimately not in the FundEveryone knows that this is not so simpleWe have good but many express nothing deepWhat dignity launch the year of the France to the BrazilThe Denmark should have contributed twelve monthsBut with the crisis this financial poker kick proved loserIt is a well any problem today of Lufthansa stockThe flop of the PS this weekend demonstratedWe have become explorers of unknown landsHe will back its activities in the United States and AsiaEvery day that passes gives more scope to the slowdown affecting the mobile telephony sector. For the second time in 15 days, Nokia has thus yesterday lowered its forecasts of market for the end of the year. Before a parterre of investors gathered in New York, the world's leading manufacturer of mobile explained that the industry suffered a decline in consumer spending, the volatility of the currency and the weakening of the credit.
But it is especially next year that the difficulties will be most felt. For the first time, Olli - Pekka Kallasvuo, Nokia President and CEO, encrypted the magnitude of the decline for 2009: sales will dwell by 5 in volume, all constructors combined... to a minimum. This means that the mobile industry could be the worst year in its history. So far, only the year 2001 had experienced a decline in sales of 5. Taking care to note "the lack of visibility" current, Nokia expects that the first half is particularly painful. Because, with the slowdown of demand, operators and other distributors will begin by sell their stocks. Making so many less control for manufacturers.
For several hours, the principal leaders of the Finnish manufacturer successive yesterday on the podium for hammering a single message: Nokia has all the assets needed to withstand the crisis. A speech which appears to have had little effect: at the Helsinki Stock Exchange, Nokia action has gained 3.96 ,...après have lost over 60 since the beginning of the year.
To negotiate the best this bad 2009 year looming, the Finnish giant is in order of battle: "We will reduce costs," said Olli-Pekka Kallasvuo. Recently Nokia announced 600 deletions of posts in its military sales and marketing and its exit from the Japanese market. Reduction of operational expenses and investments will continue in 2009 and 2010. A hiring freeze was announced, but redundancy as step envisaged some analysts. More than 90 of Nokia variable costs, the Group has a high latitude to act. In the end, the manufacturer anticipates operating margins in the mobile between 13 and 19 next year. Morgan Stanley believes that it will be 16 from 19.4 expected this year.
Gaining ground
But the cuts will not. And the Finns, which currently holds a world market share of 39 in the mobile account well take advantage of the crisis to gain further ground to its competitors. "One million consumers choose every day a Nokia mobile", recalled the CEO. "The Nokia brand has the highest rate of fidelity," agree with Morgan Stanley. The Group stressed the extent of its range of mobile, allowing him to pick up the customers as well in emerging markets than in mature countries. He has promised to capture value in returning to the field in the segment of range of "smartphones". At the time of the slowdown of the mobile market, the future of Nokia goes also through Internet services: it is a turnover of EUR 2 billion in 2011 in online music, location-based services, games... Instructed by the example of Apple with its iPhone, the Finnish giant intends to capture a portion of the value of the sectors growth also depends on that of the mobile.
