Nokia Q2 results prove out to be disappointing
From the table, it’s visible that the company as a whole which includes Nokia-Siemens Networks and NAVTEQ has €9.26 billion which was down 7% in net sales and an operating loss of €487 million.
The net sales of the Devices & Services department of Nokia decreased 20% down to €5.5 billion €2.3 billion for smartphones and €2.5 billion for feature phones. Nokia shipped 20% fewer devices overall; 88.5 million in total, compared to 111 million for Q2 2010. Nokia’s smartphones took a 31% decrease in shipment volumes and their gross margin for Q2 2011 went down to 25.7% from 32.2% in Q2 2010.Feature phone shipments also fell by 16%.
The tough competition from Android and Apple has left Nokia in deep trouble and is losing the market fast. Will the introduction of Windows devices make it any better ? We’ll have to wait and watch.