Feeds

Nokia tries to smile as profits slump

Says less money from fewer phones no big deal

Top 5 reasons to deploy VMware with Tegile

Nokia's third quarter results show the company feeling the credit crunch and losing ground to competitors with cheaper handsets, but still chipper about the future.

Overall revenues in the quarter were €12.2bn, down 5 per cent on the year, or 1 per cent in constant currency. Operating profits came in at €1.5bn 21 per cent less than this time last year.

Nokia still dominates the handset business, but not quite as much: the company estimates its own global market share at 38 per cent, down one per cent on last quarter. Much of that is attributed to the refusal to get involved in what Nokia considers the unsustainable cheaper end of the market, though even Nokia's handsets are now averaging €72, compared to €82 this time last year.

Apparently half that drop is down to the exchange rates, particularly the low dollar - but that shouldn't remain a problem as sales into North America have fallen by 16.7 per cent since last year, while sales into Europe have dropped 5.5 per cent. But these days Nokia's biggest market, by volume, is Asia Pacific with 33.6 million devices shipped in the last three months, compared to 27.4 shipped in Europe.

Elsewhere, including Africa and the Middle East, volumes are up but overall shipments are still down 5.5 per cent.

Not that it's all bad news - Nokia managed to put nine million N-Series devices and three million E-Series ones into punters' hands.

Nokia warned that its figures wouldn't be stellar this quarter. Industry mobile device volumes will be up sequentially, while mobile device market share will be "the same level or slightly up sequentially". This as average prices slip. The mobile infrastructure and fixed infrastrucutre markets will be flat.

But there's still plenty of money coming into the pot to pay for new projects such as Comes with Music and equally interesting business models. ®

Beginner's guide to SSL certificates

More from The Register

next story
The 'fun-nification' of computer education – good idea?
Compulsory code schools, luvvies love it, but what about Maths and Physics?
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Lords take revenge on REVENGE PORN publishers
Jilted Johns and Jennies with busy fingers face two years inside
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Yes, yes, Steve Jobs. Look what I'VE done for you lately – Tim Cook
New iPhone biz baron points to Apple's (his) greatest successes
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Edward who? GCHQ boss dodges Snowden topic during last speech
UK spies would rather 'walk' than do 'mass surveillance'
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.