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China's Ningbo Bird 3Q Net Falls
Published on:
SHANGHAI -(Dow Jones)- Ningbo Bird Co. (600130.SH), a major Chinese mobile handset maker, said its net profit fell 3% on year in the third quarter to CNY58.8 million, while its core revenue rose 5% to CNY2.38 billion in the same period.
Ningbo Bird didn't give reasons for the on-year decline in third-quarter net profit in its financial statement. But the company acknowledged intensifying competition in China's mobile handset market.
Foreign handset makers, including Nokia Corp. (NOK) and Motorola Inc. (MOT), have launched new handset models in China aiming to regain market share lost to domestic handset makers in the previous few years.
-By Jeff Meyer, Dow Jones Newswires; 8621 6218-3268; jeff.meyer@dowjones.com
-Edited by Andrew Bullard
(END) Dow Jones Newswires "
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