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Nokia Technologies gets new Chief. Earnings beats estimates, Stock jumps 7%. Strong outlook for H2, 2014.


1uhFQTSNokia Technologies gets new chief in Ramzi Haidamus, who has been appointed to lead the Nokia business from September. Read more about Ramzi and his impressive profile below,

Nokia today announced the appointment of Ramzi Haidamus, a technology-licensing expert with proven business leadership skills and a strong innovation background, as President of Nokia’s technologies business and member of the Group Leadership team, with effect from September 3, 2014.

A trained engineer, Haidamus has spent most of his career with Dolby Laboratories, which he helped to grow from a USD 72 million private business into a nearly USD 1 billion thriving public company. During his 17 years with Dolby, he held a variety of roles, most recently with chief operating officer-level responsibility. He has led innovation efforts, including those related to Dolby’s technological roadmaps and standards development for DVD and BluRay.  He has experience in nurturing new technologies in an incubator-like environment and in growing new businesses, including as President of Via Licensing Corporation, a Dolby subsidiary.

Nokia’s Q2 earnings have beaten market estimates and Nokia has provided improved outlook for rest of 2014. Q2 earnings of 6 euro cents a share beat the 4.5 cents analysts projected on average.  This has made stock to jump by 7% ( $8.24, NYSE ) and brings cheer to Nokia investor community.

Nokia now expects Nokia Networks’ non-IFRS operating margin for the full year 2014 to be at or slightly above the high end of Nokia Networks’ targeted long-term non-IFRS operating margin range of 5% to 10%. In addition, Nokia expects Nokia Networks’ net sales to grow on a year-on-year basis in the second half 2014. During 2014, Nokia continues to expect HERE to invest to capture longer term transformational growth opportunities. This is expected to negatively affect HERE’s 2014 non-IFRS operating margin.
Nokia expects Nokia Technologies’ annualized net sales to continue at a run rate of approximately EUR 600 million during 2014.

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