{"id":3630,"date":"2011-06-01T11:53:45","date_gmt":"2011-06-01T11:53:45","guid":{"rendered":"http:\/\/beta.sellcell.com\/blog\/?p=1143"},"modified":"2019-04-12T11:08:10","modified_gmt":"2019-04-12T11:08:10","slug":"crisis-for-old-cell-phone-maker","status":"publish","type":"post","link":"https:\/\/www.sellcell.com\/blog\/crisis-for-old-cell-phone-maker\/","title":{"rendered":"Crisis for Old Cell Phone Maker"},"content":{"rendered":"<p><a href=\"https:\/\/www.sellcell.com\/blog\/wp-content\/uploads\/2011\/06\/NOKIA-X1-00.gif\"><noscript><img decoding=\"async\" class=\"alignleft size-full wp-image-1144\" title=\"NOKIA-X1-00\" src=\"https:\/\/www.sellcell.com\/blog\/wp-content\/uploads\/2011\/06\/NOKIA-X1-00.gif\" alt width=\"180\" height=\"120\"><\/noscript><img decoding=\"async\" class=\"alignleft size-full wp-image-1144 lazyload\" title=\"NOKIA-X1-00\" src=\"data:image\/svg+xml,%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20viewBox%3D%220%200%20180%20120%22%3E%3C%2Fsvg%3E\" alt width=\"180\" height=\"120\" data-src=\"https:\/\/www.sellcell.com\/blog\/wp-content\/uploads\/2011\/06\/NOKIA-X1-00.gif\"><\/a>The world\u2019s biggest manufacturer of new and old cell phones, Nokia, is facing a crisis after severely cutting back its outlook for sales in the second quarter of this year and refusing to provide overall 2011 targets.&nbsp; The manufacturer released a statement yesterday acknowledging that \u201cmultiple factors\u201d have been hitting them hard so far this year, including \u201ccompetitive demands and market trends\u201d in China and Europe in particular, a move toward lower priced phones in its own market as well as pricing wars with competitors, the result being that their net sales will now be \u201csubstantially below\u201d the initial projection of over six billion Euros, while operating margins are also now expected to end up being a great deal lower the original forecast of between six and nine per cent.<\/p>\n<p>\u201cThey are forced to discount a lot,\u201d notes the London based Jeffries International Ltd analyst Lee Simpson.&nbsp; \u201cNo one wants these handsets.&nbsp; This is the real terrible year for these guys.\u201d<\/p>\n<p>\u201cGiven the unexpected change in our outlook for the second quarter, Nokia believes it is no longer appropriate to provide annual targets for 2011,\u201d the company claims, adding that it intends to take swift action to deal with the problem, but analysts say the news should come as a wakeup call.&nbsp; \u201cGiven the internal turmoil that will be generated by this news, it is increasingly difficult to see that Nokia can leapfrog one handset generation and be on par with competitors in early 2012,\u201d says WestLB analyst Thomas Langer.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The world\u2019s biggest manufacturer of new and old cell phones, Nokia, is facing a crisis after severely cutting back its outlook for sales in the second quarter of this year and refusing to provide overall 2011 targets.<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1821],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Crisis for Old Cell Phone Maker<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.sellcell.com\/blog\/crisis-for-old-cell-phone-maker\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crisis for Old Cell Phone Maker\" \/>\n<meta property=\"og:description\" content=\"The 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