Feeds

Nokia takes a Q1 tumble

Blames everything it can think of for mobile woes

Top 5 reasons to deploy VMware with Tegile

Handset maker Nokia missed targets for the first quarter today and saw its shares fall more than ten per cent.

Sales were up 28 per cent to €12.6bn in the first quarter ended 31 March 2008, and net profit grew 25 per cent to €1.2bn. But analysts were expecting profits of closer to €1.38bn, so Nokia shares were down 10.5 per cent on the Helsinki exchange. Falling US sales and an uncertain outlook for Europe were blamed.

The Finnish firm sold 115.5m handsets in the period - up 27 per cent year-on-year, but down 13 per cent on last quarter. This gave Nokia an estimated 39 per cent market share, up from 36 per cent in Q1 2007 but down from 40 per cent in Q4 of 2007.

US sales suffered worse - falling 45.8 per cent year-on-year, from 4.8m in Q1 2007 to 2.6m in Q1 of 2008. Its largest market, Asia-Pacific, saw sales grow from 23.7m in Q1 of 2007 to 34.1m in 2008.

Average selling price was €79, down from €83 in the last quarter of 2007.

Overall Nokia expects the worldwide handset market to grow ten per cent in 2008 from 1.14bn units in 2007, but Nokia believes the value of this market will decline in euro terms.

Nokia said it now expected the mobile device market to decline in value because of "the negative impact of the recently weakened dollar, the general economic slowdown in the US, and possibly going forward some economic slowdown in Europe". The company expects mobile and fixed line infrastructure market to stay flat in 2008, having previously predicted slight growth.

Full results available here. ®

Beginner's guide to SSL certificates

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Special pleading against mass surveillance won't help anyone
Protecting journalists alone won't protect their sources
Big Content Australia just blew a big hole in its credibility
AHEDA's research on average content prices did not expose methodology, so appears less than rigourous
Vodafone to buy 140 Phones 4u stores from stricken retailer
887 jobs 'preserved' in the process, says administrator PwC
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.