Nokia Q2 2010: Profit down 31% year on year, units sold up 3% year on year [SOS, send help, now]

Nokia just published their Q2 2010 financial results, and as always it’s a lot to take in since they provide an amazing amount of statistics. Let’s go through the most important figures:

Nokia had $10 billion worth of sales this quarter. That’s up 1% compared to the same quarter last year, and up 5% from the previous quarter. Of those $10 billion, Devices and Services net sales were $6.8 billion, up 3% year on year, and up 2% from the previous quarter. Reported profits come in at 295 million EUR, down 31% from a year ago, and down 40% from last quarter.

Nokia shipped 111.1 million devices, up 8% year on year, and up 3% from last quarter. Of those 111.1 million devices, 24 million were smartphones. That’s up 42% year on year, and up 12% from last quarter. The average price of all the mobile phones Nokia sold was 61 EUR, down from 62 EUR in Q1 2010, and down from 64 EUR in the same quarter last year. The average price of a feature phone sold was 39 EUR, and that’s 5% down compared to this time last year, and the same price it was in Q1 2010. The average price of a smartphone sold is 143 EUR, down 21% from the same quarter last year, and down 8% from last quarter.

Nokia estimates that 338 million mobile phones were shipped in Q2 2010, up 14% year on year and 5% compared to last quarter. That brings Nokia’s market share down to 33%, unchanged from the previous quarter, but down compared to the 35% share year on year. Nokia also estimates that 59 million smartphones shipped this quarter, up from 41 million a year ago, and from 52.6 million last quarter. Using those figures, Nokia’s share in the smartphone space is now 41%, same as it was last quarter, and same as it was a year ago.

Sales in Europe (by volume) are up 9% compared to last quarter, and up 12% compared to the same quarter a year ago. Sales in the Middle East and Africa, traditionally Nokia’s most awesome territory, are down 5% compared to last quarter, but up 11% year on year.

Margins continue to slip for the Devices and Services group, down to 9.5%, compared to 12.5% in the previous quarter and 11.6% a year ago. Nokia’s expectations for 2010 are flat device sales by volume, and lower value share compared to 2009.

An investor call is due to take place in less than 2 hours. Any new information from that call, or from analyst reports published somewhere else, will be added to the bottom of this blog post if something juicy turns up. This blogger is waiting to hear news about the CEO (pictured above) and when he’ll finally step down.

  • Rahul

    Nokia should sell off Ovi Maps, Throw away symbian slowly. Buy companies in india like Micromax, lava etc. Biggest thing they should do is to adopt android, hire an Apple/Palm/HTC designer to design better 'looking' hardware. Use google services like search, maps etc. and make money by creating great hardware.

Back to top ▴