Tag: Nokia

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Apple takes top spot in China’s smartphone market

Apple iphone

In 2023 Apple became the biggest smartphone vendor by shipments in China for the first time.

Last year, Honor, a spin-off from Chinese company Huawei, held the second spot with almost a 17% market share, followed by Vivo, Huawei and then Oppo.

One of the biggest changes in 2023 was Huawei’s return to the top five in China in the Q4. The iphone has been one of the world’s best-selling selling products of all time.

Since the introduction of the Apple iphone in 2007 by Steve Jobs, its inventor and company joint founder, it has gone on to sell 2.3 billion and has over 1.5 billion ‘active’ users. Not bad for a product that investors initially called ‘dead on arrival’ due to lack of interest and sales.

Nokia 3310

In 2007 the Nokia 3310 was the clear market leader and easily king of the mobile phone market. Nokia sold 7.4 million units in 2007 – Apple sold just 1.4 million. Nokia was the ‘go to product’. But not for long.

Oh my, how things have changed. Apple is the now the world’s best-selling product (not just the world’s best-selling phone) – with Nokia and many others left trailing in the dust.

Apple app store

It was the apps that done it; having a product that could be any number of different ‘products’ in one and held in your hand was a game changer – and that changed the world.

The rest is history.

Apple share price chart from 1984 (the year the Apple Macintosh was introduced)

Apple share price chart from 1984 (the year the Apple mac was introduced)
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Nokia, the once goto mobile of choice for most to cut up to 14,000 jobs after 69% profit plunge

Nokia 'old school' mobile

Nokia is planning to cut up to 14,000 jobs worldwide, or some16% of its workforce, as part of a cost-cutting plan following a 69% plunge in third-quarter profits. 

The Finnish technology company said the planned measures are aimed at reducing its cost base by between €800 million and €1.2 billion by the end of 2026. 

The cuts were announced as the company revealed a 20% drop in third-quarter sales, which fell to €4.98 billion from €6.24 billion a year earlier. The company’s biggest unit by revenue; the mobile networks business, declined 24% to €2.16 billion, driven mainly by weakness in the North American market. 

Nokia’s CEO Pekka Lundmark said the company was taking decisive action on three levels: strategic, operational and cost. He also reportedly said he remained confident about the opportunities ahead of the company.

I guess there’s not much else he could have said really.

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ARM lists in U.S. and not UK

ARM IPO

British microchip designing giant Arm has announced that it has filed paperwork to sell its shares in the U.S. 

The Cambridge-based company, which designs chips for devices from smartphones to game consoles, plans to list on New York’s Nasdaq in September. The highly anticipated IPO in the U.S. comes after UK Prime Minister, failed to convince Arm to float in London or pursue a dual UK-U.S. listing. 

Arm’s decision to list in New York rather than London has fuelled fears that the City is losing its competitiveness to Wall Street, where valuations are typically higher. SoftBank-owned chip designer Arm on 21st August 2023 disclosed a modest 1% fall in annual revenue as it made public the paperwork for a U.S. listing that is expected to be the year’s biggest initial public offering. The company is reportedly looking for a valuation of between $60bn (£47bn) to $70bn.

Arm was bought in 2016 by Japanese conglomerate Softbank in a deal worth £23.4bn. Prior to the takeover, it was listed in both London and New York for 18 years.

Companies that use ARM processors in their products

Some of the companies that use ARM processors include Apple, Qualcomm, Samsung, Broadcom, and Fujitsu. ARM technology is used in a wide range of devices, from smartphones to game consoles to supercomputers.

ARM

Arm is a British semiconductor and software design company that is known for its Arm processors, which are widely used in smartphones, tablets, laptops, and other devices. Arm was founded in 1990 as a joint venture between Acorn Computers, Apple Computer, and VLSI Technology. The company was originally called Advanced RISC Machines, but later changed its name to Arm Ltd in 1998.