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Nokia Q2 profit drops 66 percent

16 July 2009 19:04 by James "Dela" Delahunty | 3 comments

Nokia, the world's largest mobile-handset marker, posted a second-quarter earnings drop of 66 percent compared with the same period of the previous year. Net profit fell from �1.1 billion last year to �380 million, while total sales were at euro;9.91 billion, a drop of around 25 percent. The slump in profits was generally expected by analysts but the more disappointing news of the day was Nokia's adjustment of its target market share this year.

While previously expected to gain ground in the market, Nokia now expects its share of the mobile market to stay unchanged from 2008. The news sent share prices down 11 percent to �9.86. It's Nokia Siemens Networks joint-venture also had its outlook downgraded with the company now expecting a moderate loss of market share having previously aimed to maintain its current share.

The Finnish giant managed to ship 103 million mobile devices during the quarter, which represents a 15 percent drop. The global recession has had a huge impact on the market, and the average selling price of a Nokia handset fell from �74 to �62. "The mobile industry is undergoing its biggest change in its 20-year history," Nokia CEO Olli-Pekka Kallasvuo said in a conference call.

Global shipments of handsets fell to 245 million units in the first quarter, representing a 13 percent drop. Nokia has weathered the global financial crisis better than many of its competitors, but it has still been forced to axe thousands of jobs.

Permalink to this article | Topic: Phones

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Nokia profits collapse 90 percent (16 April 2009)

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khmernize (Newbie) 17 July 2009 1:16
I'm sorry but I own a Nokia 5800 xpress music and use to own Nokia E71x. I personally don't like either of them because there is to many steps just to do one thing like texting, podcasting, or staying connected to wi-fi. I keep hearing that Symbian is an open power OS but those two phones push me away from owning another Nokia phone again. [ + quote]
ammad123 (Newbie) 17 July 2009 11:10
*Originally posted by khmernize:* I'm sorry but I own a Nokia 5800 xpress music and use to own Nokia E71x. I personally don't like either of them because there is to many steps just to do one thing like texting, podcasting, or staying connected to wi-fi. I keep hearing that Symbian is an open power OS but those two phones push me away from owning another Nokia phone again. I ALSO own a Nokia 5800XM and i'd like to correct/comment on you there sir =] Well, firstly , Texting is possibly the Easiest thing you can do on the device, by selecting the "Shortcut theme for the home screen the 4 icons *shortcuts) of your choice will appear that you can easily access with ONE touch, these can include pretty much Anything, Text, Video, Radio, GPS, calender ... and the list goes on. AND @ wifi = There are various easy to use Apps on the Ovi Store that you can use to get you connected to your configured wifi spots Automatically, and even if not, a simple touch on the top right of the screen brings you to a "Connectivity menu where (even if) 2 touches and BAM ! your connected.!. A.C <!> [ + quote]
talakitok (Newbie) 17 July 2009 20:02
I'm with you ammad123. Nokia 5800 is one of the best phone they made. I advice new users of the phone, play more with it to get acquainted and get use of it's features and functionality. [ + quote]