Nokia Announced Second Quarter 2008 Numbers

Nokia has announced its second quarter 2008 numbers and they look good. Nokia has increased their market share from 39% in Q1 to 40%. That happened after selling about 122 million devices which is 6% more than before and 22% more than last year. S60 phones have increased to 15.3 million compared to Q2 2007 when it has sold 13.9 million devices. Of those 15.3 million, about 10 million are N series phones while almost 2 million are E series phones.

The reported sales were $188.4 million which is a whooping 42% up compared to last quarter. The average selling price for a Nokia phone was $117 which is about $8 lower than before. That’s partly due to the weaker dollar compared to the euro and partly to higher sales of cheaper handsets.

Let’s not forget about the Nokia Siemens Networks costs and most importantly that during this time Nokia closed down one factory in Germany while opening another one in Romania which must contribute to the final numbers for this year. Overall, it seems that Nokia is heading towards the right direction, not being threatened by any of their rivals to loose their leading position in the mobile world.

Here’s what Olli-Pekka Kallasvuo, Nokia’s CEO has to say about Q2 2008:
"Nokia delivered increased device market share and strong underlying profitability in the quarter. Looking at the rest of the year, we are optimistic and have had good feedback about the broad range of new products we expect to sell in our device business. In the second quarter we saw good momentum in the early stages of our services and software business, and we believe that the next wave of growth will be driven by devices linked with services. On the infrastructure side, Nokia Siemens Networks delivered a second quarter with good net sales growth and improved profitability."

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