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Thursday, 21 July 2011 12:48

Nokia reports disappointing quarterly results

Written by


WP7 handsets can’t come too soon
Nokia posted some very disturbing quarterly results on Thursday morning. The Finnish mobile giant seems to be in a flat spin and CEO Stephen Elop is conceding that the situation is anything but rosy.

Nokia’s operating profit is down 44 percent since Q1 and sales of mobile devices are down 23 percent sequentially. Sales of mobile phones and smartphones are down, along with average selling prices.

Elop described the results as “clearly disappointing” and went on to say that competitive pressures are continuing. He tried to paint a somewhat more positive outlook for the rest of the year, thanks to Nokia’s clear strategy and several major product launches.

Elop is clearly betting on Windows Phone 7 to turn things around towards the end of the year. Still, there is no denying Nokia is facing its most serious crisis since the days of making gas masks and army boots for the Finnish military.
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Comments  

 
+2 #1 Nerdfighter 2011-07-21 13:43
I used to love Nokia phones back in the day. They were so reliable and easy to use, and back then, there were barely any smartphones. Now they've just fallen badly behind in the software-section... Let's hope WP7 blows some new wind into the sails of what once was the best phone maker.
 
 
+2 #2 Alterecho 2011-07-21 14:02
Nokia makes some of the sturdiest phones out there. The amount of abuse those phones took, other phones wouldn't have lasted a day. I too hope they bounce back cause its a good company.
 
 
+2 #3 nele 2011-07-21 14:26
Quoting Alterecho:
Nokia makes some of the sturdiest phones out there. The amount of abuse those phones took, other phones wouldn't have lasted a day. I too hope they bounce back cause its a good company.



It used to build them...

The last Nokia smartphone I bought was plagued by software and build quality issues - poorly fitted battery cover, cheap plastic and paint started coming off from the metal bits in a couple of months.

The really old models were bulletproof.
 
 
0 #4 robert3892 2011-07-21 18:34
Let's see if Nokia can provide Windows Mobile 7 phones before the end of the year. I'm actually shocked that nothing has come out yet. They've had plenty of time
 
 
0 #5 chyll2 2011-07-21 18:42
I still buy Nokia. but I really liked the entry level ones.
 
 
0 #6 PorscheRacer14 2011-07-21 22:05
I still have my Nokia 3586i. It's been through many covers, survived quite a few drops and even one from a helicopter into a swamp. I let it dry out and it still works to this day. It's just too old now and the cover is cracked which is hard to find now. They made mobile phones that just worked when you needed them to.
 
 
0 #7 spede 2011-07-22 09:42
What's the matter Petey? You should be happy Nokia is doing badly. You've been bashing Nokia all the time.
 
 
0 #8 nele 2011-07-22 10:15
Quoting spede:
What's the matter Petey? You should be happy Nokia is doing badly. You've been bashing Nokia all the time.



Yeah but these results sort of prove Petey was right all along... They really manged to [censored] things up beyond repair.
 
 
0 #9 godrilla 2011-07-22 15:11
I'm surprised their still making a 56% profit. lol
 

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