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Nokia Sales Flat At EUR 10 Bn, Operating Profit Down 15%; Device Volumes Up 8%

Nokia reported net sales of EUR 10 billion for the quarter ending June 30th 2010, up 1% year-on-year and 5% sequentially, and an operating profit of EUR 660 million, down 15% year on year and 20% quarter on quarter. The devices and services segment contributed EUR 6.8 billion to net sales, up 3% year-on-year and 2% sequentially, of which services contributed EUR 158 million (up 7% sequentially); the segment reported gross margin of 30.2%, down from 34.0% in Q2-2009 and 32.4% in Q1-2010. The devices and services segment reported a 19% decline in operating profit year-on-year, and 20% quarter-on-quarter. Interestingly, billings for the services segment were up 29% sequentially, at EUR 295 million. Device sales for Nokia were up 8% year-on-year and 3% sequentially, at 111.1 million units, of which Nokia converged mobile device (smartphone and what Nokia calles "mobile computer") reported volumes of 24 million units, up 42% year-on-year and 12% sequentially, despite a reduction in Nokia's oveall Average Selling Price (including services revenue). ASP fell from EUR 62 in Q1 to EUR 61. According to Nokia estimates, the handset market for the quarter, in terms of device volumes, was 338 million units, 14% up year on year, and 5% sequentially. Nokia has, clearly, underperformed the market. This led to a further reduction in global marketshare for the company, down to an estimated 33% Q2-2010, compared to 35% in Q2-2009; Nokia believes its marketshare remained unchanged quarter on quarter. The company also estimates that the overall mobile industry shipped…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

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