Nokia has just reported its first quarter financial results. Sales and profits were both up year-on-year, with net sales reaching 9.5 billion Euro. Device shipments were up 16% year-on-year to 107.8 million units, with sales of 'converged' devices – smartphones and mobile-enabled computers – up 57%. In addition, 10 million Nokia smartphone users have downloaded the company's free sat-nav service since January.
However, CEO Olli-Pekka Kallasvuo warned that the company continues to face tough competition at the high end of its mobile device portfolio and challenging market conditions on the infrastructure side.
The company also confirmed that average selling prices had fallen since the previous quarter and admitted that a new smartphone based on the Symbian^3 software platform wouldn't hit the shops until Q3 2010, later than had previously been expected.
[PDF results]