Nokia Q2 2010 Financial Report

Nokia’s Q2 2010 financial report is out and there is no problem for them in terms of money earned. The company continues to dominate the low end markets and generated profit. The Net sales in Q2 2010 for Nokia is EUR 10 billion, an 1% increase compared to Q2 2009. nokia-logo

Net sales from Devices and Services is EUR 6.79 billion, a 3% rise compared to Q2 2009. The net sales from NAVTEQ is EUR 252 million, 71% rise compared to Q2 2009. Net sales from Nokia Siemens Network is EUR 3.03 billion, a 5% drop compared to Q2 2009.

The Operating Profit is EUR 295 million, which took a 31% dip from EUR 427 million in Q2 2009. The ASP dropped to EUR 61 from EUR 62 in Q1 2010. NOKIA CEO, OLLI-PEKKA KALLASVUO said,

“Despite facing continuing competitive challenges, we ended the second quarter with several reasons to be optimistic about our future. For one, the global handset market has continued to grow at a healthy pace, led by some of the less mature markets where Nokia is strong. We are also encouraged by the solid second quarter performance of our Mobile Phones business, helped by an improving line-up of affordable models.

In smartphones, we continue to renew our portfolio. We believe that the Nokia N8, the first of our Symbian^3 devices, will have a user experience superior to that of any smartphone Nokia has created. The Nokia N8 will be followed soon thereafter by further Symbian^3 smartphones that we are confident will give the platform broader appeal and reach, and kick-start Nokia’s fightback at the higher end of the market.”

According to me, Nokia is expecting a lot from a wounded horse (Symbian^3). They themselves didn’t made any significant improvements in Symbian^3 and are expecting it to compete with giants like Apple and Google. Let us wait and see what Nokia has planned for future.