MUNICH, Germany-Although Siemens AG suffered a loss in net income, its wireless division reported a group profit of $60 million in the second quarter compared with a profit of $48 million in the corresponding quarter last year.
Its sales dropped 15 percent to $2.5 billion as against 2.9 billion in the year-ago period.
On sales of 8 million handsets, the company raked in $1 billion and generated $2.2 million in profit.
Its infrastructure earnings were $48 million on sales of $1.16 billion in contrast to $36 million last year.
“I am satisfied with our results, including another positive development in net cash,” said Siemens Chief Executive Officer Heinrich v. Pierer. “However, the ongoing weakness in capital spending across our major regions and markets is a concern. We will adjust our resources and investment plans appropriately in the event that it becomes necessary.”
