Feeds

Nokia market share dips below 30% in Q1

Revenues up, pre-tax profit down

Eight steps to building an HP BladeSystem

Nokia's global mobile phone market share significantly fell below 30 per cent for the first time in 10 years during the company's first quarter, when it announced a new pact with Microsoft.

The company, which today signed a definitive agreement with MS to build several Nokia Windows phones together, posted better than expected Q1 operating profit on Thursday.

Revenues at the Finnish phone maker were up nine per cent to €10.39bn for the quarter ended 31 March 2011. That compared with sales of €9.52bn in the same period a year earlier.

However, pre-tax profit dropped from €411m to $403m year-on-year.

At the same time, Nokia's market share in the mobile phone biz declined from 33 per cent in its 2010 Q1 to 29 per cent in its most recent quarter.

But the company's operating profit cheered the markets, which had expected a decrease of some 40 per cent during the quarter. Instead it fell by 14 per cent to €344m, compared with €499m for the same period a year earlier.

Nokia boss Stephen Elop confessed in the company's results statement that life was about to get even tougher for the phone vendor.

"Following a solid first quarter, we expect a more challenging second quarter. However, we are encouraged by our roadmap of mobile phones and Symbian smartphones, which we will ship through the balance of the year," he said.

"We are fully focused on delivering the needed accountability, speed and results to positively drive our future financial performance.”

Nokia shares are currently up 3.25 per cent to $8.59 in pre-market trading on Wall Street. ®

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
Bose says today IS F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
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
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.