More mobile losses at Siemens

27 Jan 2005

Germany’s Siemens group has seen another set of poor results from its struggling mobile phone business. The Mobile Devices unit, which is part of Siemens’ Communications division, made a loss of EUR143 million in its first quarter ending 31 December, compared to a profit of EUR64 million in the same period last year. This is the unit’s third straight quarterly loss. Sales fell from EUR1.486 billion to EUR1.170 billion, while handset shipments dropped from 15.2 million units to 13.5 million. Siemens Communications reported a profit of EUR240 million thanks to a EUR208 million gain from the sale of part of its shares in Juniper Networks. The company says it will take “additional measures” to help boost the mobile phones business.

Germany