0
Wireless

FIH Mobile loss widens in 2020 after sales fall 38%

Monday 29 March 2021 | 09:47 CET | News
FIH Mobile reported revenues for 2020 down 38 percent to to USD 8.9 billion. The phonemaker was hurt by the drop in demand due to the coronavirus crisis, as well as sanctions against Huawei, one of its major customers, and the wider tensions between the US and China. The lower sales along with writedowns on assets led to a loss of USD 174 million for the year, compared to a loss of USD 12 million in 2019. 

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: Mobile & Wireless
Companies: FIH Mobile / HMD Global / Huawei / Nokia
Countries: World
::: add a comment
This article is part of dossier

Coronavirus


Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Sonim partners with FIH Mobile to produce rugged feature phones

Published 08 Mar 2021 15:54 CET | World
Sonim Technologies has selected FIH Mobile (FIH), a subsidiary of Foxconn Technology Group, to support the engineering and ...

FIH Mobile sees bigger loss in 2020 on expected asset write-offs

Published 09 Dec 2020 10:01 CET | World
FIH Mobile said it expects to report a significantly larger loss for 2020 than last year, as it weathers a difficult mobile phone ...

FIH Mobile posts Q3 loss as revenues fall nearly 40%

Published 11 Nov 2020 13:33 CET | World
Handset manufacturer FIH Mobile reported continued losses in the third quarter and said it expects to report a net loss for the ...

Nokia phone maker HMD Global raises USD 230 mln to expand business

Published 11 Aug 2020 15:42 CET | World
HMD Global, the maker of Nokia brand phones, announced it has raised USD 230 million in new financing from investors. The money ...

FIH Mobile confirms H1 loss, sees difficult market conditions continuing

Published 10 Aug 2020 13:00 CET | World
FIH Mobile has confirmed a net loss of USD 101 million for the first half of 2020, compared to a loss of USD 84 million a year ...





Calendar   /   Industry Events

10 May Ceva Q1 2021
10 May Weibo Q1 2021
10 May Boingo Wireless Q1 2021
10 May Synchronoss Q1
10 May NortonLifeLock fiscal Q4, investors day
10 May 8x8 fiscal Q4 results
11 May Magyar Telekom Q1 2021
11 May Radcom Q1 2021
11 May Vizio Q1 2021
11 May Sonim Q1 2021
11 May Telefonica Brasil Q1 2021
11 May Allot Q1 2021
11 May Softbank FY results
11 May United Internet Q1 2021
11 May Lattice Semiconductor investor day
11 May Small Cells World Summit
12 May Airtel Africa Q1 2021
12 May Mediaset Q1 2021
12 May NEC FY results
12 May Telefonica Deutschland Q1 2021
12 May Deutsche Telekom Q1 2021
12 May Bredband2 Q1 2021
12 May Syn Q1 results 2021
12 May OTE Q1 2021
12 May Lumentum fiscal Q3
13 May Inwit Q1 2021
13 May Telefonica Q1 2021
13 May Poly fiscal Q4
13 May Alibaba Group Q1
13 May DZS investors day
::: More Calendar Items