FIH Mobile reported revenues of USD 6.389 billion for the first half, down 2.65 percent from a year earlier due to the general weakness in the smartphone market and end to its distribution business at the start of the year. The net loss narrowed to USD 83.8 million from USD 348.6 million a year earlier as the group reduced costs, and FIH said it expects a "materially smaller" net loss for the full year compared to 2018.
The contract manufacturer said its gross margin improved slightly in the period, to 0.68 percent from 0.53 percent. This was helped by changes to its contract with HMD Global, the maker of Nokia phones, at the end of 2018 to try to improve margins. The decline in the Nokia business has been offset somewhat by growth at a newer US-based internet consumer, FIH said.
