Nokia Q2 Reports Promising Figures

Profit and sales down but market share up so its bad but everyone else is worse!

Nokia may be by far the largest of mobile phone manufacturer on the planet but even this giant has been suffering in recent times. Despite three successively poor quarters however the Finns have bounced back a little with their latest results…

The bad news is Nokia’s Q2 operating profit was down a monstrous 66 per cent on the same period last year to 775m euros with net sales falling 25 per cent to 9.9 billion euros. Yes it sounds hugely depressing but a) remember we’re still talking about ”profit” here not loss and b)…

Global market share has actually rebounded somewhat with Nokia back up to 38 per cent – a whopping chunk of all mobile phone sales. Its star handset was the 5800 Xpress Music (pictured) which shipped 3.7m units in Q2 alone and 6.8m units in all. 5m Nokia E71s have also found new homes. Nokia said it doesn’t see a further decline in the mobile phone (unlike Sony Ericsson) and expects growth to be flat in Q3. That will however still be 10 per down compared to 2008.

Nokia put in a solid performance in what was another tough quarter,” said Nokia CEO Olli-Pekka Kallasvuo. “We increased our share of the global mobile device market sequentially to an estimated 38% and grew our smartphone market share to an estimated 41%. As a result of strong operational execution, underlying operating margins improved sequentially in all segments. Competition remains intense, but demand in the overall mobile device market appears to be bottoming out. As before, we are continuing to tightly manage our operating expenses.”

Yep, Nokia’s just fine people…

Press Release

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