Nokia releases dreary Q2 2011 interim reportBy Hanleigh Daniels 22 July 2011 | Categories: news
Nokia has released its Q2 2011 interim report, which in stark contrast to Apple’s latest financial results, isn’t all that rosy. The Finnish phone maker reported an operating profit of €391 million, down 41% compared to Q2 2010 (€ 660 million) and down 44% compared to Q1 2011 (€704 million).
Nokia managed to sell 88.5 million mobile devices during this quarter, which is 20% less than this time last year (111 million) and 18% less than the previous quarter (108.5 million). The majority (about 81%) of these 88.5 million mobile devices, were mobile phones (71.8 million) including the Nokia 1208, whilst smartphones such as the E7, N8, C7 and E5 accounted for the remaining number (16.7 million). Smartphone sales were down 34% compared to the previous year’s Q2 figures (25.2 million) and 31% down compared to the previous quarter (24.2 million).
These sales figures mean that Apple has knocked Nokia off its smartphone throne to claim top spot amongst the smartphone manufacturers, as it managed to sell 20.34 million iPhones during its most recent fiscal quarter (Q3 2011). According to TUAW, Nokia is expected to concede second place to Samsung as soon as next week, when the Korean tech firm will reveal its latest quarterly results. Samsung’s smartphone sales figures are estimated to be around 19.5 million.
“The challenges we are facing during our strategic transformation manifested in a greater than expected way in Q2 2011,” Nokia CEO Stephen Elop said. “However, even within the quarter, I believe our actions to mitigate the impact of these challenges have started to have a positive impact on the underlying health of our business. Most importantly, we are making better-than-expected progress toward our strategic goals.”
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