I was a Nokia stalwart for years, they tended to have the best phones with the best UI and always moved the game on with inovative designs and improving their devices.
For the last 2-3 years this hasnt been the case. Even the new N97 isnt the product it should have been. People will still buy phones if they offer something even in this financial climate. Look at the Iphone 3GS, over priced and not a significant move on from the 3g but it still selling.
Nokia need to lock themselves away for a few months and go back to basics and start innovating.
Nokia sales and profits dip
Summary
Nokia, the world's largest maker of mobile phones, reported that its second-quarter operating profit fell 71 percent - triggered by a sales drop of about 25 percent.
Topics
Nokia, the world's largest maker of mobile phones, reported Thursday that its second-quarter operating profit fell 71 percent to 427 million euros ($600 million) from 1.47 billion euros during the same quarter a year earlier.
The company also reported that sales fell about 25 percent to 9.9 billion euros in the second quarter. But sales were up 7 percent sequentially from the first quarter of 2008.
Nokia shipped 103.2 million units during the quarter, which was down about 15 percent compared with a year earlier. But shipments were up 11 percent sequentially compared with the first quarter of this year.
And the company reiterated its expectation that the entire mobile market would contract about 10 percent during 2009.
That said, CEO Olli-Pekka Kallasvuo said in a statement that the worst may be over.
"Competition remains intense, but demand in the overall mobile device market appears to be bottoming out," he said. "As before, we are continuing to tightly manage our operating expenses."
Nokia said that it increased its market share sequentially for global sales of mobile phones to an estimated 38 percent. And its smartphone market share grew sequentially to 41 percent.
Toward the end of the second quarter, Nokia brought its N97 smartphone to the U.S. market.
The company changed its forecast for the third quarter, and said it expects its third-quarter market share in mobile phones to remain flat sequentially. The company had expected to increase market share in the second half of the year, but now it expects market share to remain flat.
This article was originally posted by CNET News.
Talkback Most Recent of 7 Talkback(s)
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JaMacQ17th Jul 2009 -
RE: Nokia sales and profits dip
When somany competators are in the market,one company loosing profit is a healthy sign for the consumers.
Good,
Yours,
vrvrao45@gmail.com
vrvrao4517th Jul 2009 -
Parassassin17th Jul 2009 -
RE: Nokia sales and profits dip
Well i do not know how they are in less profit. Every three months they comes up with new phone and make a lot of money. I beleive that N97 is very nice phone as i recenly got it free from http://www.domesticutilities.com on 35 pounds package. And almost every single on i know they do want N97 and nokia is saying that they are not making much money thats ********.
kashiqi17th Jul 2009 -
kashiqi17th Jul 2009
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RE: Nokia sales and profits dip
SHAAAAAAMMMMMMMEEEE ON NOKIA. PROSTITUTION OF ITS TECHNOLOGY, SELLING TO IRANIAN GOVERNMENT!!!!!!!!!!!!??????
MONEY IS THAT IMPORTANT, THEN DRUG TRAFICKIN BRINGS MORE. I AM AN IRANIAN AND HATE NOKIA MORE THAN AHMADINEJAD ,WHOM I DETEST!!!
NAVNAV24th Jul 2009 -
RE: Nokia sales and profits dip
SHAAAAAAMMMMMMMEEEE ON NOKIA. PROS... OF ITS TECHNOLOGY, SELLING TO IRANIAN GOVERNMENT!!!!!!!!!!!!??????
MONEY IS THAT IMPORTANT, THEN DRUG TRAFICKIN BRINGS MORE. I AM AN IRANIAN AND HATE NOKIA MORE THAN AHMADINEJAD ,WHOM I DETEST!!!NAVNAV24th Jul 2009
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