Feeds

Nokia tries to smile as profits slump

Says less money from fewer phones no big deal

Eight steps to building an HP BladeSystem

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. ®

Mobile application security vulnerability report

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
Bose says today IS F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.