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Thursday, April 21, 2011

Nokia quarterly results released

As well as confirming its agreement with Microsoft is now signed, Nokia has also released its first quarter 2011 interim report today.

Net sales were up 9% year-on-year but down 18% on the previous quarter to 10.4 billion Euro (around £9.1 billion). Total mobile device shipments hit 108.5 million units in Q1 2011, which was up 1% year-on-year but down 12% sequentially. The smartphone and mobile computer segment achieved volumes of 24.2 million units, up 13% year-on-year.

Stephen Elop, Nokia’s CEO, said “In the first quarter, we shifted from defining our strategy to executing our strategy. On this front, I am pleased to report that we signed our definitive agreement with Microsoft and already our product design and engineering work is well under way. Following a solid first quarter, we expect a more challenging second quarter. However, we are encouraged by our roadmap of mobile phones and Symbian smartphones, which we will ship through the balance of the year. We are fully focused on delivering the needed accountability, speed and results to positively drive our future financial performance.”

[Full report (pdf)]

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