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Wireless

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

Wednesday 9 December 2020 | 10:01 CET | News
FIH Mobile said it expects to report a significantly larger loss for 2020 than last year, as it weathers a difficult mobile phone market and pursues a more "asset-light" strategy. While it has seem some pick-up in the Chinese market and has applied for Covid-related aid there, the overall handset market remains weak and competition intense. This means further downsizing is needed and obsolete assets and excess capacity will be written off, the company said. The exact amount of the impairment and restructuring charges is not yet known. 

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Categories: Mobile & Wireless
Companies: FIH Mobile
Countries: World
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