Nokia shipped 111.1 million phones yet profits dropped 40%
Nokia announced it’s results for Q2 and the Finnish phone maker is still shipping tons of phones compared to other handset makers. It shipped 111.1 million units , had sales of 10 billion USD.
But the sad news is that operating profit was down 40 % compared to last year mainly due to low margins on devices sold and various other reasons. The ASP or Average selling price of Nokia handsets have also dropped. Nokia needs to roll out Symbian^3 devices and MeeGo devices to win back the profits !
This is what Nokia CEO – Olli -Pekka Kallasvuo had to say about the results
“Despite facing continuing competitive challenges, we ended the second quarter with several reasons to be optimistic about our future. For one, the global handset market has continued to grow at a healthy pace, led by some of the less mature markets where Nokia is strong. We are also encouraged by the solid second quarter performance of our Mobile Phones business, helped by an improving line-up of affordable models.
In smartphones, we continue to renew our portfolio. We believe that the Nokia N8, the first of our Symbian^3 devices, will have a user experience superior to that of any smartphone Nokia has created. The Nokia N8 will be followed soon thereafter by further Symbian^3 smartphones that we are confident will give the platform broader appeal and reach, and kick-start Nokia’s fightback at the higher end of the market.”
Varun Krish is a Mobile Technology Enthusiast and has been blogging about mobile phones since 2005. His current phones include the Nokia Lumia 800 and Apple iPhone 4S. You can follow him on Twitter @varunkrish and on Google+ You can also mail Varun Krish
