MUNICH, Germany-Although Siemens suffered a loss in net income, its wireless division reported a group profit of US$60 million in the second quarter compared with a profit of US$48 million in the corresponding quarter last year.
Its sales dropped 15 percent to US$2.5 billion as against US$2.9 billion in the year-ago period.
On sales of 8 million handsets, the company raked in US$1 billion and generated US$2.2 million in profit.
Its infrastructure earnings were US$48 million on sales of US$1.16 billion in contrast to US$36 million last year.
“I am satisfied with our results, including another positive development in net cash,” said Siemens Chief Executive Officer (CEO) 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.”
