Bird Suffers Big Mobile Loss

August 31, 2007 | Print | Email Email | Comments | Category: Gadgets & Electronics



    Following its initial loss in 2005, Chinese mobile phone manufacturer Bird has once again been trapped in a big loss.

    Bird's latest financial report shows that in the first six months of this year, the company suffered a total loss of CNY237 million, dragging it down 859% less than the same period of last year. Bird estimates that its net profit for the period from January to September of this year will also see big losses.

    In order to reduce costs and change the current capital crisis, Bird has announced plans to sell the stake of three of its affiliates, including Ningbo Sagem Bird Development and Research Co., Ltd, a joint venture company between French Sagem and Bird, in exchange for CNY25 million.

    At the same time, local media reports Bird will transfer 24% of its stake at Chongqing Bird Technology to Chongqing Runsida Technology for CNY441,300 and transfer 73% of the stake of Chongqing Bird Information Technology to Zhou Guangzhi from Ningbo Bird Holding Co., Ltd. for CNY3 million.

    Related Links:


    Recommend this page: 1 Star2 Stars3 Stars4 Stars5 Stars

    Loading ... Loading ...
    Related News:
  • Bird Predicts Loss In First Half Year
  • Bird's Net Profit Drops By 859%
  • Bird Tries To Fly High With 3G Mobile Phone
  • Bird To Sell Mobile Phone Business
  • Ningbo Bird Posts CNY22.08 Million Loss In H1 2008
  • Amoi Suffers CNY100 Million Loss In Third Quarter
  • Siemens And Bird In Strategic Partnership
  • Bird Might Fly With Dopod On High-End Mobile Phones
  • Bird Withdraws From Car Industry
  • China Mobile Announces Purchase Of Bird Mobile Phones



    • Leave A Comment:



    Inside ChinaTechNews.com


      Other China News

      China Sourcing News:

      Home Building Chain Closes Another Store In China

      American Internet Retailer Adds Courier Fees In China

      French Optics Company Announces Two China Investment Deals

      Increasing Manufacturing Costs Cause Trouble For Chinese Retailer
      TechSecurityChina.com:

      Inspur International To Sell Chinese E-government Business

      Shareholder Disputes Settled For Chinese Media Firm

      Qihoo 360′s Safebox Software Will Integrate With Uuu9.com

      Apple Suspends iPhone 4S Sales In Retail Stores In China
      ChinaWirelessNews.com:

      ZTE Launches First Tablet In America

      Apple Adopts New iPhone Sales System In Hong Kong

      China Telecom To Launch CDMA-based iPhone 4S

      China Mobile's Call Center In Luoyang Formally Launched

      Visit these other China sites: ChinaRetailNews.com | GreenChinaTech.com | ChinaWirelessNews.com | TechSecurityChina.com | China Sourcing News | China CSR