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http://www.siemens.com/investor/pool/en/investor_relations/financial_publications/speeches_and_presentations/q32012/flashlight_q312.pdf
Q3 2012 showed a 230 Million Euro operating loss like most of the quarters before it except two, its on page 13 of above presentation, and that after NSN received its last free 500M Euro from Siemens and last free 500M Euro from Nokia, that was what we were made to believe. This Q2 2012 operating profit, and there was another one before that, which is very small, in the tens of millions of Euro's, you never mentioned, why? Siemens is no longer involved with NSN, Siemens gave its last 500M Euro beginning of 2012 and said NSN must now IPO. Siemens insisted on a new board member that will oversee this IPO process, Jesper Ovesen now executive chairman of the board. Siemens is shedding NSN like it did its Mobile phone division to BenQ several years ago, that closed down 12 months later with ~3000 Germans losing their positions.
NSN is now competing with Alcatel Lucent for the third spot, since Huawei occupies second spot for 12 months now.
WSJ states "The world's second-largest telecom equipment provider, Huawei Technologies"
http://live.wsj.com/video/will-security-concerns-hold-back-china-huawei/43C8B9DE-8592-42A4-BB03-EC604311A2AA.html#!43C8B9DE-8592-42A4-BB03-EC604311A2AA
Nokia is now responsible for NSN profit and loss, look at the board member distribution. Also on page 13 it states "reported by Nokia". NSN is a division of Nokia, google it. NSN is definitely a dark horse, galloping south...
From Trefis team I expected much higher Quality journalistic investigation especially since you are influencing stocks, than what is portrayed above in your article.
For example, you did not mention the NSN credit extension that went south also earlier this year, as well as the Billions of Euros that Siemens and Nokia paid "invested in the JV" from 2007 to float its JV. If we expect NSN to revive Nokia, you are dreaming! NSN can not IPO if its more loss than profit and its profit needs to be more that 10% or above to IPO, as if this is going to happen soon. You should also mention all the departments it is selling off to prospective bidders, I think NSN is now already at the third or forth, look for Dragonwave, IPTV, Ericsson on NSN BSS and there was one more before that. Is Joe Kaeser on speaking terms with Rajeev Suri? google it!
[ less... ]
Q3 2012 showed a 230 Million Euro operating loss like most of the quarters before it except two, its on page 13 of above presentation, and that after NSN received its last free 500M Euro from Siemens and last free 500M Euro from Nokia, that was what we were made to believe. This Q2 2012 operating profit, and there was another one before that, which is very small, in the tens of millions of Euro's, you never mentioned, why? Siemens is no longer involved with NSN, Siemens gave its last 500M Euro beginning of 2012 and said NSN must now IPO. Siemens insisted on a new board member that will oversee this IPO process, Jesper Ovesen now executive chairman of the board. Siemens is shedding NSN like it did its Mobile phone division to BenQ several years ago, that closed down 12 months later with ~3000 Germans losing their positions.
NSN is now competing with Alcatel Lucent for the third spot, since Huawei occupies second spot for 12 months now.
WSJ states "The world's second-largest telecom equipment provider, Huawei Technologies"
http://live.wsj.com/video/will-security-concerns-hold-back-china-huawei/43C8B9DE-8592-42A4-BB03-EC604311A2AA.html#!43C8B9DE-8592-42A4-BB03-EC604311A2AA
Nokia is now responsible for NSN profit and loss, look at the board member distribution. Also on page 13 it states "reported by Nokia". NSN is a division of Nokia, google it. NSN is definitely a dark horse, galloping south...
From Trefis team I expected much higher Quality journalistic investigation especially since you are influencing stocks, than what is portrayed above in your article.
For example, you did not mention the NSN credit extension that went south also earlier this year, as well as the Billions of Euros that Siemens and Nokia paid "invested in the JV" from 2007 to float its JV. If we expect NSN to revive Nokia, you are dreaming! NSN can not IPO if its more loss than profit and its profit needs to be more that 10% or above to IPO, as if this is going to happen soon. You should also mention all the departments it is selling off to prospective bidders, I think NSN is now already at the third or forth, look for Dragonwave, IPTV, Ericsson on NSN BSS and there was one more before that. Is Joe Kaeser on speaking terms with Rajeev Suri? google it!
[ less... ]
http://www.siemens.com/investor/pool/en/investor_relations/financial_publications/speeches_and_presentations/q32012/flashlight_q312.pdf
Q3 2012 showed a 230 Million Euro operating loss like most of the quarters before it except two, its on page 13 of above presentation, and that after NSN received its last free 500M Euro from Siemens and last free 500M Euro from Nokia, that was what we were made to believe. This Q2 2012 operating profit, and there was another one before that, which is very small, in the tens of millions of Euro's, you never mentioned, why? Siemens is no longer involved with NSN, Siemens gave its last 500M Euro beginning of 2012 and said NSN must now IPO. Siemens insisted on a new board member that will oversee this IPO process, Jesper Ovesen now executive chairman of the board. Siemens is shedding NSN like it did its Mobile phone division to BenQ several years ago, that closed down 12 months later with ~3000 Germans losing their positions.
NSN is now competing with Alcatel Lucent for the third spot, since Huawei occupies second spot for 12 months now.
WSJ states "The world's second-largest telecom equipment provider, Huawei Technologies"
http://live.wsj.com/video/will-security-concerns-hold-back-china-huawei/43C8B9DE-8592-42A4-BB03-EC604311A2AA.html#!43C8B9DE-8592-42A4-BB03-EC604311A2AA
Nokia is now responsible for NSN profit and loss, look at the board member distribution. Also on page 13 it states "reported by Nokia". NSN is a division of Nokia, google it. NSN is definitely a dark horse, galloping south...
From Trefis team I expected much higher Quality journalistic investigation especially since you are influencing stocks, than what is portrayed above in your article.
For example, you did not mention the NSN credit extension that went south also earlier this year, as well as the Billions of Euros that Siemens and Nokia paid "invested in the JV" from 2007 to float its JV. If we expect NSN to revive Nokia, you are dreaming! NSN can not IPO if its more loss than profit and its profit needs to be more that 10% or above to IPO, as if this is going to happen soon. You should also mention all the departments it is selling off to prospective bidders, I think NSN is now already at the third or forth, look for Dragonwave, IPTV, Ericsson on NSN BSS and there was one more before that. Is Joe Kaeser on speaking terms with Rajeev Suri? google it!
The Euro 230 million loss includes restructuring and amortization charges of over Euro 250 million. Excluding that, Nokia reported approx. Euro 30 million in NON-IFRS operating profits for NSN last quarter. As restructuring expenses decrease over time and job cuts result in savings to the tune of $1.3 billion (most of the 17,000 job cuts are expected to be complete by 2013), we will see the company realize more profits. The JV has also been generating free cash flow since the end of 2011.<br><br>NSN and Huawei have been competing for the second spot in the wireless equipment market for over two years now. Huawei took the no 2 spot from NSN most recently in Q4 2011. (https://telecomlead.com/telecom-equipment/huawei-grabs-2-spot-in-wireless-network-market-in-q4-2011-from-nokia-siemens/) NSN, with more than 60 LTE contract wins both in the emerging markets (China, India) as well as the U.S. (T-Mobile, most recently), will be looking to become the no 2 vendor next year.<br><br>NSN is a division of Nokia, as we have shown in our sankey model, and accounts for 23% of the company's value. The divisions NSN is selling off are part of its restructuring process that will see it shed non-core assets and help it focus better on its wireless business, which we believe is more profitable and is seeing higher growth rates.