How makers of phones and tablets are faring

AP News
Posted: Jul 20, 2012 10:54 AM
How makers of phones and tablets are faring

This week, makers of mobile devices began releasing their earnings reports for the latest quarter. Many companies including Nokia and Research in Motion have been struggling to compete with Apple and manufacturers of devices running Google's Android software.

Here's a look at earnings reports from selected companies in the industry. Dates for some phone makers are not yet known.

— Thursday: Nokia Corp. says its net loss nearly quadrupled in the second quarter on sagging sales of smartphones, which fell 39 percent from a year ago to 10.2 million. The company's stock jumped, however, as sales of low-end phones buoyed revenue and shipments of the new Lumia phones, which run on Windows software and will replace the older smartphone models, were not as bad as feared. In North America, sales of the Lumia phones offset declines in traditional Symbian devices.

Google Inc., which completed its purchase of Motorola Mobility during the quarter, says it saw strengths in North America with Verizon Wireless, driven by the Razr Maxx device. But it says international sales of basic cellphones and mid-tier smartphones declined. Google reiterates that 1 million new Android devices from various phone makers are being activated each day, with more than 400 million activated worldwide.

Coming up:

— Tuesday: Apple Inc.

— Friday: Samsung Electronics Co.

— Sept. 27: Research In Motion Ltd.