Nokia’s Q1 2011 financial results are ready, and we can have a look at them. Let’s now try to find out what the company has accomplished during the first three months of the current year.
According to Nokia’s Q1 2011 financial results, the company’s sales were up 9 percent, totaling 10.4 billion Euros (about $15 billion). This result was, however, down 18 percent if compared to Q4 2010.
The profits of the Finnish company made up 439 million Euros (about $640 million), which is 10 percent less than it was in the same quarter in 2010 and 50 percent less than in Q4 2010.
Phones and Smartphones Sold
Nokia sold 108.5 million mobile phones in the first quarter of 2011, and it’s 1 percent more than in the same quarter a year ago and 12 percent less than in the fourth quarter of 2010. 24.2 million of those 108.5 million were smartphones, which is up 13 percent if compared to the same period a year ago and down 14 percent compared to the Q4 2010.
In total, 374 million phones were sold in the mobile industry last quarter, so Nokia’s 108.5 million made up the 29 percent of them. 92.3 million of those 374 million phones sold worldwide were smartphones, so Nokia’s 24.2 million smartphones made up 26 percent of the smartphone market, which is 41 percent less than in the first quarter of 2010 and 31 percent less than in Q4 2010.
In Q1 2010 the average price of a Nokia phone was 62 Euros (about $90.5), while in Q4 2010 it cost about 69 Euros ($100.6). In Q1 2011 the average price of a Nokia phone made up 65 Euros ($94.7). As for the Nokia smartphones, their price has dropped to 147 Euros (about $214), which is 6 percent less than in last year.
How will the financial results of the rest of the year look? No one knows it, though Nokia’s expecting much from the future. “We expect a more challenging second quarter,” says Nokia CEO Stephen Elop. Yesterday the company signed an agreement with Microsoft, so let’s wait and see where the partnership will lead them.