Feeds

Nokia market share dips below 30% in Q1

Revenues up, pre-tax profit down

Build a business case: developing custom apps

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. ®

Build a business case: developing custom apps

More from The Register

next story
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Nintend-OH NO! Sorry, Mario – your profits are in another castle
Red-hatted mascot, red-colored logo, red-stained finance books
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
prev story

Whitepapers

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.
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.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Maximize storage efficiency across the enterprise
The HP StoreOnce backup solution offers highly flexible, centrally managed, and highly efficient data protection for any enterprise.