Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Siemens to Cut Costs at Mobile Phone Unit
Mar 8, 2005
 Printable format
 Email this Article
 Search

German-based Siemens AG announced plans to cut costs at its mobile phone unit by a total of 1 billion euros (approx. U.S. $1.32 billion).

Lothar Pauly, the head of Siemens' communication division, said that savings of up to 600 million euros (approx. $793 million) should be achieved in the current fiscal year, which ends Sept. 30, 2005.

Mr. Pauly would not give exact details of the program, but said it would focus on cuts in marketing spending rather than layoffs. He also said the company will launch 15 models, including third-generation handsets, this year to regain market share.

In Siemens' first fiscal quarter, the handset unit posted a loss of 143 million euros (approx. $189 million), compared with a profit of 64 million euros (approx. $85 million) a year earlier. For the 2004 fiscal year as a whole, it lost 152 million euros (approx. $200 million). (AP)

Back to Daily News

 

Daily News

...........................................................

Apr 23, 2014: Bosch Home Appliances Garners EPA Energy Star Partner of the Year - Sustained Excellence Award

Apr 23, 2014: AO Smith Develops Ultra-Low NOx, Compact Commercial Water Heater for California

Apr 23, 2014: Dacor Launches First North American Cooktop with Touch Control

Apr 23, 2014: Existing-Home Sales Show Slight March Decrease

Apr 23, 2014: CEA: Consumer Sentiment Down in April

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Pharmalive | Plastics Today | Powder Bulk Solids | Canon Trade Shows