Reuters - Video

EDITION: U.S. | U.K. | IN

Tech Videos

Nokia shares slump after dividend axed

Thursday, January 24, 2013 - 02:07

Jan. 24 - Finnish mobile phone maker Nokia plans to axe its annual dividend payment for the first time in over 20 years to shore up its cash position as it tries to orchestrate a turnaround. Matt Cowan reports.

▲ Hide Transcript

View Transcript

Shares in the Finnish handset maker Nokia are down around 10 percent after the company announced plans to axe its dividend. The stock intially spiked after the company delivered its fourth quarter and full year results, before falling sharply. Nokia - which has paid an annual dividend for over 20 years - finished the year with 4.4 billion euros in net cash. That's down 22 percent from a year earlier, but up from the previous quarter and above analyst forecasts. It flagged a return to profitability earlier this month on stronger sales of its Lumia smartphones, selling 4.4 million in the fourth quarter. Ian Fogg is the chief mobile analyst at IHS Screen Digest SOUNDBITE: Ian Fogg, IHS Screen Digest Head of Mobile saying (English): "Nokia described those sales as strong sales but compared to the competition, those are quite weak sales for Lumia. For Lumia to be establishing itself in the market, they need to be selling many more than 4.4 million in one quarter." Nokia's results come a day after Apple revealed it had shipped a record number of iPhones in the December quarter. Apple's share have now slide 12 percent since following results that missed expectations. Alan Higgins is the chief investment officer at the UK bank Coutts. SOUNDBITE: Alan Higgins, Coutts Chief Investment Officer saying (English): "When it comes to Apple, the market needs to come to terms that that this is a modest growth company." Still, few seem ready to predict that momentum is shifting to struggling competitors such as Nokia. SOUNDBITE: Ian Fogg, IHS Screen Digest Head of Mobile saying (English): "Apple is still growing strongly in terms of device shipments, which set them up for the future. It sets them up with a good market share whereas Nokia is struggling to establish Windows phone in the market." Nokia Chief Executive Stephen Elop is under intense pressure to show he made the right decision in February 2011 to drop Nokia's own operating system in favour of Windows Phone. He has said it would take two years for a successful transition, and that period is almost over.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Nokia shares slump after dividend axed

Thursday, January 24, 2013 - 02:07

Top News »

Most Popular »

Editors' Picks »

Oddly Enough »

Hundreds of Batmen secure world record Hundreds of Batmen secure world record

Sun, 21 Sep, 2014 - (0:38)

Riding a bike "side-saddle" Riding a bike "side-saddle"

Thu, 18 Sep, 2014 - (1:10)

Celebs speak up in Scottish independence debate Celebs speak up in Scottish independence...

Tue, 16 Sep, 2014 - (1:29)

Flying a plane using power of the mind Flying a plane using power of the mind

Tue, 16 Sep, 2014 - (1:55)

Philippines breeds its first baby penguin Philippines breeds its first baby penguin

Tue, 16 Sep, 2014 - (1:18)

Nowhere to hide for this horror film Nowhere to hide for this horror film

Mon, 15 Sep, 2014 - (0:48)

Mexico dishes up creepy crawly fare Mexico dishes up creepy crawly fare

Sun, 14 Sep, 2014 - (1:31)

Lion cubs the pride of San Diego Zoo Lion cubs the pride of San Diego Zoo

Sat, 13 Sep, 2014 - (0:46)

Holy cow, get me outta here! Holy cow, get me outta here!

Tue, 09 Sep, 2014 - (0:21)

Enough tacos to feed a village Enough tacos to feed a village

Mon, 08 Sep, 2014 - (0:46)

Giant rabbit just laying about in Taiwan Giant rabbit just laying about in Taiwan

Mon, 08 Sep, 2014 - (1:07)

This is one very large order of beer This is one very large order of beer

Mon, 08 Sep, 2014 - (1:24)

Cockatoos learn carpentry skills from peers Cockatoos learn carpentry skills from peers

Sun, 07 Sep, 2014 - (2:13)

Sports And Leisure »

Wireless charging technology comes to Formula-E racing Wireless charging technology comes to...

Fri, 12 Sep, 2014 - (1:44)

Sports Spread: Premier League preview and predictions Sports Spread: Premier League preview and...

Thu, 11 Sep, 2014 - (10:58)

Sports Spread: F1, Football, Flushing Meadow Sports Spread: F1, Football, Flushing Meadow

Thu, 04 Sep, 2014 - (10:20)

Sports Spread: Premier League Preview Sports Spread: Premier League Preview

Thu, 28 Aug, 2014 - (10:48)

Say I love you with a selfie, begs Paris Say I love you with a selfie, begs Paris

Thu, 14 Aug, 2014 - (1:43)

Kobe schools Chinese on the court Kobe schools Chinese on the court

Thu, 31 Jul, 2014 - (0:48)

From elites to music lovers, what makes Verbier special? From elites to music lovers, what makes...

Thu, 31 Jul, 2014 - (1:53)

Brazilian football legend Neymar says recovering well Brazilian football legend Neymar says...

Thu, 31 Jul, 2014 - (0:52)

Sports Spread: Football famine, F1 feast Sports Spread: Football famine, F1 feast

Thu, 24 Jul, 2014 - (11:34)

The Open 2014: Who'll win the Claret Jug? The Open 2014: Who'll win the Claret Jug?

Thu, 17 Jul, 2014 - (9:17)

Long 'to do' list for Russian World Cup Long 'to do' list for Russian World Cup

Tue, 15 Jul, 2014 - (2:26)

German football team arrives to a hero's welcome in Berlin German football team arrives to a hero's...

Tue, 15 Jul, 2014 - (0:46)

Germany fans celebrate World Cup victory outside Maracana Germany fans celebrate World Cup victory...

Mon, 14 Jul, 2014 - (1:23)

World Cup: passion on the pitch World Cup: passion on the pitch

Fri, 11 Jul, 2014 - (1:00)

Breakingviews: Soccer Prophet? Breakingviews: Soccer Prophet?

Fri, 11 Jul, 2014 - (7:20)

World Cup: Who will win the final? World Cup: Who will win the final?

Thu, 10 Jul, 2014 - (10:13)

Boom or bust for World Cup hosts? Boom or bust for World Cup hosts?

Tue, 08 Jul, 2014 - (2:47)

Dateline Asia »

iPhone black market surges in Hong Kong iPhone black market surges in Hong Kong

Fri, 19 Sep, 2014 - (1:50)

Breakingviews: Alibaba priced for believers Breakingviews: Alibaba priced for believers

Fri, 19 Sep, 2014 - (3:09)

Sterling jumps, on Scottish vote Sterling jumps, on Scottish vote

Fri, 19 Sep, 2014 - (2:56)

Rare rock on the block in Hong Kong Rare rock on the block in Hong Kong

Thu, 18 Sep, 2014 - (1:43)

Alibaba IPO is 'overhyped': Mark Mobius Alibaba IPO is 'overhyped': Mark Mobius

Thu, 18 Sep, 2014 - (4:13)

China tech players chip away at Alibaba China tech players chip away at Alibaba

Wed, 17 Sep, 2014 - (4:02)

Breakingviews: India hits Japan/China radar Breakingviews: India hits Japan/China radar

Wed, 17 Sep, 2014 - (2:20)

Asia corporate sentiment is slipping Asia corporate sentiment is slipping

Wed, 17 Sep, 2014 - (1:36)

Alibaba's China roadshow Alibaba's China roadshow

Mon, 15 Sep, 2014 - (2:16)

Asia Week Ahead: Xi Jinping gets down to business in India Asia Week Ahead: Xi Jinping gets down to...

Fri, 12 Sep, 2014 - (1:56)

Vancouver 'unaffordable'? Not in China Vancouver 'unaffordable'? Not in China

Thu, 11 Sep, 2014 - (3:16)

Breakingviews: Export shortfall damaging emerging economies Breakingviews: Export shortfall damaging...

Thu, 11 Sep, 2014 - (2:33)

Hong Kong democracy - the facts Hong Kong democracy - the facts

Thu, 11 Sep, 2014 - (1:26)

Breakingviews: Get to know the Alibaba valuation calculator Breakingviews: Get to know the Alibaba...

Wed, 10 Sep, 2014 - (3:30)

Abe looks to Japan's consumers Abe looks to Japan's consumers

Tue, 09 Sep, 2014 - (1:45)

Corruption crackdown gives rise to a new mooncake in China Corruption crackdown gives rise to a new...

Mon, 08 Sep, 2014 - (2:09)

Asia Week Ahead: China trade to reveal recovery pace Asia Week Ahead: China trade to reveal...

Fri, 05 Sep, 2014 - (1:22)

Breakingviews: Beijing signals no more 'hands-off Hong Kong' Breakingviews: Beijing signals no more...

Mon, 01 Sep, 2014 - (3:08)

Reuters Investigates »

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, 19 Feb, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, 10 Jan, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, 29 Aug, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, 29 Aug, 2013 - (13:21)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, 05 Aug, 2013 - (1:36)

How education lost its role as the great equalizer - Reuters Investigates How education lost its role as the great...

Mon, 17 Dec, 2012 - (7:52)

Jihad Jane: From abused child to American jihadist - Reuters Investigates Jihad Jane: From abused child to American...

Sun, 09 Dec, 2012 - (10:01)

Jihad Jane: The order to kill - Reuters Investigates Jihad Jane: The order to kill - Reuters...

Mon, 10 Dec, 2012 - (10:39)

Lessons of the Jihad Jane case - Reuters Investigates Lessons of the Jihad Jane case - Reuters...

Mon, 10 Dec, 2012 - (3:43)

Exclusive: Jihad Jane in her own words Exclusive: Jihad Jane in her own words

Sun, 09 Dec, 2012 - (4:11)

Attorney: How a Maryland teenager became radicalized - Reuters Investigates Attorney: How a Maryland teenager became...

Fri, 07 Dec, 2012 - (4:21)

Counselor: Jihad Jane at 17 - Reuters Investigates Counselor: Jihad Jane at 17 - Reuters...

Fri, 07 Dec, 2012 - (4:17)

Moving Pictures »

Still missing – MH370 Still missing – MH370

Fri, 05 Sep, 2014 - (2:05)

Images of August Images of August

Fri, 29 Aug, 2014 - (1:00)

Burning Together Burning Together

Mon, 01 Sep, 2014 - (2:23)

Mending dolls, teddies and hearts Mending dolls, teddies and hearts

Fri, 22 Aug, 2014 - (3:12)

"Old timers" sail the Chesapeake Bay "Old timers" sail the Chesapeake Bay

Mon, 11 Aug, 2014 - (2:27)

Burned memories Burned memories

Fri, 08 Aug, 2014 - (3:02)

Images of July Images of July

Fri, 01 Aug, 2014 - (1:20)

World Cup: passion on the pitch World Cup: passion on the pitch

Fri, 11 Jul, 2014 - (1:00)

A refugee in America gives back A refugee in America gives back

Thu, 03 Jul, 2014 - (3:25)

A long search for refuge A long search for refuge

Fri, 20 Jun, 2014 - (3:04)

World Cup: Around the globe in 50 goals World Cup: Around the globe in 50 goals

Fri, 06 Jun, 2014 - (1:08)

VIVID – Sydney’s spectacle of light VIVID – Sydney’s spectacle of light

Fri, 30 May, 2014 - (1:37)

The week that changed Boston The week that changed Boston

Mon, 14 Apr, 2014 - (3:28)

360° snapshot of life in Kabul 360° snapshot of life in Kabul

Fri, 04 Apr, 2014 - (1:26)

A blind teenager, living with vision A blind teenager, living with vision

Thu, 27 Mar, 2014 - (3:51)

TIMELAPSE: Backstage at the Oscars TIMELAPSE: Backstage at the Oscars

Wed, 05 Mar, 2014 - (2:49)

TIMELAPSE: Lunch with Oscar nominees TIMELAPSE: Lunch with Oscar nominees

Wed, 12 Feb, 2014 - (2:55)

Sochi Highlights: Let the games begin Sochi Highlights: Let the games begin

Fri, 07 Feb, 2014 - (0:40)

TIMELAPSE: On the Golden Globes red carpet TIMELAPSE: On the Golden Globes red carpet

Tue, 14 Jan, 2014 - (3:28)

Pictures of the Year 2013 Pictures of the Year 2013

Fri, 20 Dec, 2013 - (3:03)

Marching to the beat of Sousa's drum Marching to the beat of Sousa's drum

Fri, 06 Dec, 2013 - (6:11)

The Gettysburg Address The Gettysburg Address

Thu, 28 Nov, 2013 - (2:31)

Making Gruyere: A family affair Making Gruyere: A family affair

Wed, 16 Oct, 2013 - (5:06)

Abortion: After the decision Abortion: After the decision

Tue, 17 Sep, 2013 - (5:46)

A Hollywood Timelapse A Hollywood Timelapse

Tue, 23 Jul, 2013 - (2:24)

Idaho's militia training Idaho's militia training

Wed, 17 Jul, 2013 - (5:04)

Tornado survivors of Moore, Oklahoma Tornado survivors of Moore, Oklahoma

Fri, 07 Jun, 2013 - (5:25)

24 hours in Taksim Square 24 hours in Taksim Square

Fri, 07 Jun, 2013 - (1:00)

A Zeppelin flashback A Zeppelin flashback

Wed, 05 Jun, 2013 - (6:50)