Phone Sales Surge; Supply Short
Dec 4, 2003, 12:54 PM by (staff)
Phone sales worldwide are surging unexpectely this quarter, causing a shortage of phones and the components needed to make them. New estimates peg the market at over 500 million phones this year, compared to previous esitmates of 440-460 million. Analysts say Nokia may be best-positioned to meet the increased demand. Motorola, meanwhile, announced a shortage of the camera modules used in its newest phones, forcing it to ship low volumes of its V300 and V500 models, and delay the V600 until next year. Qualcomm also announced significantly higher-than-expected sales of its CDMA chips for phones.
Lenovo to Slash 3,200 Jobs After Motorola Sales Slide
Lenovo today said it plans to reduce its headcount by as many as 3,200, or about 10%, as it looks to reduce expenses. The company reported earnings and said sales across its various business units dropped by 9% during the quarter.
LG Says New V Series Phone Coming Soon
LG today reported its second quarter earnings and took the opportunity to tease a forthcoming handset. LG's mobile business increased revenues 12% from the first quarter to $2.86 billion, but "somewhat slow" sales of its G5 flagship and the associated marketing costs led the unit to a loss of $132 million.
LG Says It Will Release Two Flagship Phones This Year
LG today said it will introduce two high-end smartphones during 2016 to better compete with its rivals. The company believes the new flagship models and "a more cost-competitive value chain" will help it recoup profits and marketshare throughout the year.
Microsoft to Cut 1,850 Smartphone Workers
Microsoft today said it plans to further streamline its smartphone business, an action that includes job cuts and restructuring charges. The company plans to cut 1,350 jobs from its facilities in Finland, as well as another 500 jobs globally.
Nokia-Branded Phones to Make a Comeback
Nokia and Microsoft today put in motion a series of deals that will eventually lead to Nokia-branded handsets returning to the market. Microsoft has agreed to sell its feature phone business to FIH Mobile Limited, a subsidiary of Foxconn, for about $350 million.
More and more people
Best Way to Get V400