Nokia, which issued a rare profit warning earlier this year amid competition from its rivals, predicted on Thursday that its third-quarter revenue and profits would be better than expected due to growing mobile phone sales, the first glimmer of good news for the besieged cellphone maker in months. \nThe world's largest mobile phone maker said that for the quarter ending Sept. 30, earnings per share would be between US$0.13 and US$0.16, compared with a previous estimate of US$0 to US$0.12 a share. \nBased on sales during July and last month, Nokia also said its revenue for the period would likely be US$8.3 billion to US$8.4 billion. In July, the company predicted its sales wouldn't top US$8.2 billion for the third quarter. \nThe announcement pushed the Finnish company's shares up 6.2 percent to close at US$13.60 on the Helsinki Stock Exchange. But analysts cautioned it was far too early to say if Nokia was in a position to shore up its market share and fend off rivals viewed as having more stylish and desirable phones. \n"This was good news for Nokia, but the competition is tough out there, much tougher than before," said Jussi Hyoty, chief analyst at FIM Securities. "And if Nokia wants to achieve the same overwhelmingly strong position it had earlier, which would be very difficult, then it really needs groundbreaking new models and clear alternatives." \nJust last year, Nokia said it wanted to reach a 40-percent share of the global market, but its hopes were dashed by rivals Motorola, Samsung, LG and Sony Ericsson, all of whom came out with models that consumers desired and undercut Nokia's share. \nSince then, Nokia chief executive Jorma Ollila has made it a priority to regain that clout with new models boasting better camera phones, easier connectivity to e-mail and the Internet and trendier designs. \nNokia said its own figures showed handset sales worldwide for the industry were up to an estimated 148 million. It expects that market to continue grow in Europe, the Middle East and Africa, but hold steady in Asia and the Americas. \nNokia is the bellwether of the mobile phone trade and still sells more than twice as many phones as its leading rival, US-based Motorola. But that wasn't enough stem market loss. Analysts have blamed Nokia for a lack of catchy designs and innovative new models -- like the hugely popular folding "clamshell" models -- and partnerships with operators. \nGartner Inc said in June that the Finnish company's global market share in mobile phones dropped to 28.9 percent in the first quarter of this year from 34.6 percent a year earlier. \nLast week, however, Gartner said Nokia sales had again picked up and that it reached 29.4 percent of the global market in the second quarter of the year. \nIt has introduced models like the 6230, which boasts a camera, video recorder and FM radio. \nAnother high-end model, a clamshell 6260 with a swiveling flip, has a video recorder, Web browser, e-mail and VPN, with Bluetooth network and an optional wireless keyboard. \nIn Shanghai on Thursday, Nokia unveiled three more handsets from its fashion collection, all inspired by 1920s styling and design, featuring the Nokia 7260, 7280 and the clamshell 7270, that blend old world art deco with an edgy, modern day twist.
NPP WARNING: The NPP’s chairman said that a security law proposed by Beijing means it has renounced its promise to maintain ‘one country, two systems’ in HK The Taiwan People’s Party (TPP) yesterday proposed changing the law to provide protection for those seeking political asylum. China at the opening of the National People’s Congress in Beijing on Thursday introduced a draft security law for Hong Kong to ban treason, subversion and sedition, with a review expected next week. TPP caucus whip Jang Chyi-lu (張其祿) said that the party is concerned about democracy advocates in Hong Kong and has taken action to support them. The party has proposed an amendment to Article 18 of the Act Governing Relations with Hong Kong and Macau (香港澳門關係條例), which stipulates that the government can offer
The number of people from Hong Kong applying for residency in Taiwan last year rose 41 percent from a year earlier to 5,858, National Immigration Agency statistics showed. The statistics also showed that 600 applications were filed by Hong Kong residents in the first quarter of this year — three times the number filed in the same period last year — with applicants apparently not deterred by the COVID-19 pandemic. Just one day after it was reported that the Chinese government plans to enact new national security laws in Hong Kong, inquiries regarding immigration to Taiwan grew 10-fold, a Hong Kong-based immigration
‘BEGINNING OF THE END’: Democracy advocate Joshua Wong urged Hong Kongers to stand up and fight, and let the Chinese government know that they will not cave Hong Kong protesters yesterday battled with riot police in busy downtown areas, showing their opposition toward China’s dramatic move to crack down on dissent in the biggest demonstration since the coronavirus swept through the territory in January. Police deployed a water cannon and fired tear gas in the Causeway Bay shopping area after hundreds of protesters had gathered to oppose new national security legislation from China. Police warned the crowd they were taking part in an illegal gathering, and later said in a statement that “rioters threw umbrellas, water bottles and other objects at them.” At least 120 people were arrested,
‘TAIWAN IS SAFE’: As there have been no new local cases for 42 days, people should feel free to travel around the nation — as long as they follow disease prevention rules No new cases of COVID-19 were reported yesterday and only 20 of the people hospitalized after testing positive are still being treated in hospitals, Minister of Health and Welfare Chen Shih-chung (陳時中) said yesterday in Pingtung County’s Kenting (墾丁) as he promoted a “new disease prevention lifestyle” for the nation. As yesterday was the 42nd consecutive day with no new domestic cases, and experts consider 28 consecutive days with no domestic case — the span of two incubation periods — a sign that a community is relatively safe, Taiwan is safe, said Chen, who heads the Central Epidemic Command Center (CECC),