Business news with words billion+nokia. 38 news.

(Reuters) -- Chicago-based digital map supplier Navteq Corp., which agreed to be acquired by Nokia Oyj for $8.1 billion, said its stockholders approved the merger agreement. Shareholders representing over 75 percent of the issued and outstanding common shares eligible to vote, or over 99 percent ...

Nokia Corp. said Tuesday it expects the global market for mobile devices to grow 10 percent in 2008, to more than 1.2 billion units, and that its market share would increase. The world's largest mobile phone maker also predicted that the worldwide...

A CONTRACT manufacturer of mobile phones for customers, including Motorola Inc, and its parent could raise as much as HK$7.7 billion (US$989 million) in a Hong Kong initial public offering. BYD Electronic and parent BYD Co are selling 550 million shares, equivalent to a 25-percent stake, at HK$10.75 to HK$14 each, according to an e-mail sent to international institutions, Bloomberg News reported. BYD Co, based in Shenzhen in south China, has more than doubled in Hong Kong trading this year on expectations it may profit for a sale of its handset-component unit. BYD Electronic, which competes with Foxconn International Holdings Ltd for contracts to make phones, is building production plants in China, Hungary and Romania to meet demand. BYD Electronic makes casings and keypads for Nokia Oyj and Samsung Electronics Co, the world's top two mobile-phone makers, Daiwa Institute of Research said in a November 23 report. The Chinese company also assembles phones for Illinois-based

When Nokia made its $8.1 billion offer for digital mapmaker Navteq in early October, the first question batted around by investors was, Why pay so much? The question they should have asked was, How do I get in? Not on Navteq -- too late for that -- but on the technology trend to which Nokia just gave a multibillion-dollar vote of confidence: location-based services.

GARMIN Ltd, the world's largest maker of personal navigation devices, unveiled an unsolicited US$3.3 billion takeover offer for Dutch digital map maker Tele Atlas NV yesterday, topping an offer by rival TomTom NV by 15 percent. Tele Atlas, which had endorsed the TomTom bid, said it was now reviewing its options. A TomTom spokesman declined to comment while the company studies the US$35.31 per share Garmin bid. TomTom shares plunged 12 percent to US$86.33, while Tele Atlas shares rose 14 percent to US$39.34, signaling that some investors are speculating the bidding will go higher. TomTom began a rush to consolidate the high-growth digital mapping industry when it said it would buy Tele Atlas for US$30.63 per share in July. On October 1, mobile phone maker Nokia Corp announced an US$8.1 billion bid for the only other global digital map maker, Navteq Corp. Both TomTom and Nokia plan to tightly integrate the maps into the design of their navigation devices and phones, and

Garmin, the biggest maker of car navigation devices in the United States, has begun a hostile 2.3 billion-euro ($3.3 billion) cash offer for Tele Atlas, a Dutch digital-mapping company, trumping a bid by TomTom. The battle for Tele Atlas, the world’s No. 2 maker of digital maps, comes weeks after Nokia, the Finnish cellphone giant, agreed [...]

MOBILE-PHONE shipments worldwide this year will probably increase 20 percent, more than previously estimated, because of higher Nokia Oyj sales and demand in China and India, JPMorgan Chase & Co has said. Shipments will rise to 1.2 billion units, compared with a previous estimate for 1.17 billion, Bhavin Shah, head of JPMorgan's Asia-Pacific technology research team, wrote in a report on Saturday. Next year, shipments will probably climb 15 percent, Shah said, according to Bloomberg News. Industry leader Nokia and Asia's biggest producer, Samsung Electronics Co, reported mobile-phone earnings that beat analysts' estimates this month. China will extend its lead as the biggest market for handsets after shipments rise 30 percent this year, according to the report. "This shows those who get customers in emerging markets win," said Robyn Hsu, who counts shares of mobile-phone chipmaker Mediatek Inc amid the US$152 million he helps manage at Truswell Securities Investment

NOKIA Oyj, the world's biggest maker of mobile phones, said yesterday its third-quarter profit surged 85 percent, beating analysts' estimates, as new models helped capture market share from Motorola Inc. Net income rose to 1.56 billion euros (US$2.23 billion), or 40 cents a share, from 845 million euros, or 21 cents, a year earlier. Sales rose 28 percent to 12.9 billion euros, Espoo, Finland-based Nokia said in a statement. Nokia shares jumped 7.5 percent after the report, Bloomberg News reported. The company introduced higher-priced handsets with navigation and multimedia functions to win customers from Motorola, which posted two straight quarterly losses this year. Nokia Chief Executive Officer Olli-Pekka Kallasvuo has made acquisitions to spur growth from Internet content such as music, games and maps, taking on Apple Inc and TomTom NV. "Nokia's gap to the number two handset manufacturer has never been this big before," Michael Schroeder, an analyst at

Nokia Corp. reported a near-doubling of third-quarter profit and a larger share of the global handset market Thursday as it benefited from strong sales in areas like India and China.

HELSINKI, Finland - Nokia Corp. nearly doubled third-quarter earnings and reported a larger share of the global handset market Thursday on strong sales in India and China.

Nokia has posted an 85% rise in third quarter net profit to ?1.56 billion, though mobile phone sales rose only 3%.

AFP - Nokia, the world's leading mobile phone maker, posted Thursday an 85 percent rise in third quarter net profit to 1.56 billion euros (2.22 billion dollars) even though mobile phone sales were only up by three percent.

LONDON (MarketWatch) -- Nokia Corp. , the world's largest maker of mobile phones, on Thursday posted an 85% jump in third-quarter profit to 1.56 billion euros, or 0.40 euros a share, from 845 million euros, or 0.21 euros a share, a year earlier. The results topped consensus expectations for earnings of 0.36 euros a share. Sales rose 28% to 12.9 billion euros. The number of phones shipped in the quarter improved 26% to 111.7 million units. Nokia said market share improved to 39%. The average selling price of a device fell to 82 euros from 90 euros in the second quarter as the proportion of phones sold in the under 30-euro segment increased significantly. The operating margin at the mobile device business rose to 22.6% from 13.1% a year earlier. Turning to the Nokia Siemens Networks joint venture, Nokia said it now sees charges of just over 2 billion euros related to the integration compared with an earlier forecast of 1.5 billion euros. Nokia Siemens Networks reported an operating loss of 120 million euros in the quarter.

(Crain's) -- A New Jersey shareholder of Navteq Corp. is trying to block the Chicago-based digital mapmaker's $8.1-billion sale to Nokia Corp. A lawsuit filed Oct. 9 in Cook County Circuit Court that seeks class-action status alleges that Navteq executives breached their fiduciary duties by ...

QUALCOMM Inc has earned more than US$11 billion in royalties from its cell-phone technologies this decade. Just as the company bet those payments would accelerate, some of its customers are starting to balk, Bloomberg News reported. Nokia Oyj, the largest mobile-phone maker, is seeking to persuade a United States trade judge that its mobile phones don't use some of Qualcomm's patents. An initial decision is due next month. A loss could force Qualcomm to cut its fees, at a time when its chip designs are taking over the industry. At stake is a patent-licensing business that provided 76 percent of operating profit last year. Qualcomm may have to make concessions, said patent lawyer David Airan of Leydig, Voit & Mayer in Chicago. That could prompt other handset makers to demand price cuts, eroding San Diego-based Qualcomm's position in the US$39 billion market for mobile-phone chips. "Qualcomm will not be able to take its royalty model further, that's absolutely

Stock markets surged around the world on hopes that the worst of the credit crisis was over and expectations that the Federal Reserve would ride to the rescue if not. The Standard & Poor's 500 set a record Friday and a raft of Asian markets climbed new peaks as well. Nokia, a mobile-handset maker, acquired Navteq, a digital-mapping company, for $8.1 billion. Navteq's software is used on satellite-navigation devices and websites, among other things. Nokia is betting that location-based services will become increasingly popular among mobile-phone users.

Where is the navigation industry heading? MEN, the stereotype has it, never ask for directions. Now many of them have an excuse, in the form of a portable navigation device (PND). Nearly 35m of these hand-held or dashboard-mounted units will be sold around the world this year, twice as many as in 2006 (see chart), making personal navigation one of the fastest-growing areas in consumer electronics. The latest versions of these gadgets do more than simply show the stubborn or shy the way. The industry is beginning to focus on the services PNDs could provide, prompting a scramble for the ownership of the digital maps they use. Proof of this shift came on October 1st, when Nokia, the world's largest mobile-phone maker, said that it would acquire Navteq, the world's biggest maker of digital maps, for EURO5.7 billion ($8.1 billion) in cash--a heady sum for a company with only $362m in revenues and $71m in net income in the first half of this year. In July, TomTom, a leading PND vendor from the Netherlands, announced plans to buy Tele Atlas, the next biggest mapmaker, for EURO1.8 billion.

Nokia's $8.1 billion acquisition of digital maps provider Navteq marks a sea change in the mobile industry as software and services become as important as the phones themselves.

CHICAGO - Nokia has agreed to buy digital mapmaker Navteq for $8.1 billion in a deal that shakes up the GPS device market and underscores the intent of the world's largest mobile phone maker to use more navigation in its handsets and other products.

Nokia Corp., the world's largest mobile phone maker, announced Monday that it would buy U.S. navigation-software maker Navteq Corp. for around US$8.1 billion (euro5.68 billion).