Nokia second quarter 2008 operating results summary:
| €, million |
Q2/2008 |
Q2/2007 |
YoY Change |
Q1/2008 |
QoQ Change |
| Net sales |
13151 |
12587 |
4% |
12660 |
4% |
| Group operating profit |
1474 |
2359 |
-38% |
1531 |
-4% |
| Net Profit |
1103 |
2828 |
-61% |
1222 |
-10% |
The drop in net profit caused a significant decline in per-share earnings
| € |
Q2/2008 |
Q2/2007 |
YoY Change |
Q1/2008 |
QoQ Change |
| EPS, EUR Diluted |
0.29 |
0.72 |
-60% |
0.32 |
-9% |
At the present moment the company’s share in the world mobile market is 40% and according to experts, Nokia have a good chance to keep on increasing it in the third quarter 2008.
| |
Q2/2008 |
Q2/2007 |
YoY Change |
Q1/2008 |
QoQ Change |
| Telecom market share |
40% |
38% |
2% |
39% |
1% |
Sales volume according to region
| million copies |
Q2/2008 |
Q2/2007 |
YoY Change |
Q1/2008 |
QoQ Change |
| Europe |
27.1 |
27.1 |
0.0 |
25.7 |
5.4 |
| Middle East & Africa |
21.1 |
17.1 |
23.4 |
20.2 |
4.5 |
| Greater China |
17.6 |
15.9 |
10.7 |
21.0 |
-16.2 |
| Asia-Pacific |
36.4 |
25.6 |
42.2 |
34.1 |
6.7 |
| North America |
4.5 |
4.1 |
9.8 |
2.6 |
73.1 |
| Latin America |
15.3 |
11.0 |
39.1 |
11.9 |
28.6 |
| TOTAL |
122.0 |
100.8 |
21.0 |
115.5 |
5.6 |
As seen from the table, the company managed to hold their positions in Europe and showed a growth in a number of regions. It’s quite remarkable that against the background of the financial crisis in the US, North America is also showing a strong growth. The most significant increase in mobile sales was seen in the Asia-Pacific region.
Nokia Siemens Networks, telecommunications equipment developer and manufacturer for both fixed and mobile providers, became most successful this quarter. Their net sales increased 18% compared to the same period of the last year.
Nokia Siemens Networks net sales by geographic area.
| €, million |
Q2/2008 |
Q2/2007 |
YoY Change |
Q1/2008 |
QoQ Change |
| Europe |
1412 |
1186 |
19.1 |
1212 |
16.5 |
| Middle East & Africa |
553 |
369 |
49.9 |
448 |
23.4 |
| Greater China |
413 |
294 |
40.5 |
269 |
53.5 |
| Asia-Pacific |
1076 |
1183 |
-9.0 |
944 |
14.0 |
| North America |
158 |
164 |
-3.7 |
192 |
-17.7 |
| Latin America |
455 |
242 |
88.0 |
336 |
35.4 |
| TOTAL: |
4067 |
3438 |
18.3 |
3401 |
19.6 |
The average selling price of a Nokia phone decreased to €74 from €79, but 40% of this decline was caused by the exchange rate changes and inflation.
The volume of mobile industry is expected to grow 10% in 2008, which is quite a good result (though lower than last years’ figures) given a significant economic slowdown and energy prices rise.
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