16 Jul 09 Nokia’s Market Share Up but Profits Go Down in Q2

Nokia has announced the numbers for the second quarter of the year and they don’t look very good. Nokia has sold 103.2 million handsets in Q2 which is 11% better than in Q1. As for the global market share, Nokia still holds an impressive 38% in Q2 which is 1% better than in Q1. And you’d expect Nokia’s profits to be up too right? Well that’s not what happened folks! Are you ready for this? Nokia’s operating profit for Q2 was of just 775 million Euros. That sounds like a lot but that’s 66% less than last year. Net sales dropped 25% in Q2 compared to last year which amounts to 9.9 billion Euros.

The hottest Nokia phones were the 5800 and the E71. The 5800 XpressMusic sold in 3.7 million units in Q2 while the E71 sold in 5 million units since it was launched.

What is Nokia expecting for the third quarter? Well the company will maintain its market share but it also expects device volumes to decline by 10% from 2008 levels. We’ll be waiting to see similar reports from the other big names in the industry. Is any manufacturer doing better than in 2008?

via Nokia

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Tags: 5800, E71, Market share, Nokia, profits, Q2, report, sales, XpressMusic