THE WRAP: Nokia's contrasting fortunes; SE maintains profitability
This week saw contrasting fortunes for Nokia, with a blow to its US ambitions offset by stellar apps growth in China
The Finnish vendor cancelled the launch of its X7 smartphone with US carrier AT&T fearing a lack of marketing support.
But the firm made up for the blow by revealing its Ovi Store dominates the Chinese apps market with a 65% share almost seven times higher than rival Apple.
A modest profit of €8 million in the fourth quarter helped Sony Ericsson to its first profitable year since 2007.
OHB-System, a key supplier to Europe’s Galileo satellite positioning scheme, sacked its chief after he claimed the project was doomed to fail.
The OECD claimed the threat of global cyber attacks is massively overstated due to a lack of cohesion over the terminology used.
ZTE’s US chief called for a level playing field in the market. Lixin Cheng believes the firm has been tarred by the same brush as Huawei, hampering its chances in the country.
The value of rare earth exports from China trebled to €697 million in 2010, despite cuts in quotas.
Sales of the iPhone and iPad drove Apple’s calendar 4Q profits to $6 billion (€4.4 billion) – almost double the sum generated in the same period in 2009. The results eased investor’s concerns over the firm’s future after chief Steve Jobs took his third sick leave since 2004.
And UK ISP TalkTalk denied that rollout of its next generation network and billing system had been delayed.