Aside from Samsung and Apple Inc. (NASDAQ:AAPL), Nokia also faces challenges from local Chinese vendors. Data released by IDC at the end of January showed that Nokia didn’t even make it on the top five smartphone vendors in China, and could beat out Chinese vendors Huawei and ZTE.
Nokia Corporation (ADR) (NYSE:NOK) isn’t completely dependent on China for its business, but the company’s overall numbers aren’t looking great, either. Nokia saw a loss of $196 million this quarter, and overall device sales were down 30% compared to last quarter. The good news was that Lumia sales were up 27% from the previous quarter, but that shouldn’t be enough for investors to get excited about. The company has a long way to go before things will start turning around for its mobile offerings, and the competition is only getting more intense. Investors needed to see strong Lumia sales in China and the absence of that means that China is going to be an uphill battle for Nokia Corporation (ADR) (NYSE:NOK).
The article What the Heck Is Nokia Doing Wrong in China? originally appeared on Fool.com and is written by Chris Neiger.
Fool contributor Chris Neiger has no position in any stocks mentioned. The Motley Fool recommends Apple and Google. The Motley Fool owns shares of Apple, China Mobile, and Google.
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