All About Symbian - Nokia (S60) and Sony Ericsson (UIQ) smartphones unwrapped

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  #1  
Old 22-04-2010, 11:27 AM
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Nokia Q1 2010 results, smartphone growth with cautious outlook

Nokia has released their Q1 2010 results, reporting an operating profit of €488 million, with net sales €9.5 billion (up 3% YoY). Nokia's device and service division's profits were €831 million, up 52% year on year. Margins in devices and services were 12.1% (up 1.3% YoY and down 5% QoQ). Converged devices sales (smartphone) were 21.5 million, compared with 13.7 million units in Q1 2001 (up 57%) and 20.1 million units in Q4 2009 (up 3%). As such, worldwide converged device ('smartphone') marketshare was 41%, up 1% sequentially and 3% year on year.

Read on in the full article.

  #2  
Old 22-04-2010, 11:39 AM
Brendan Donegan
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"This represents a delay in introducing the first Symbian^3 handsets, which were initially expected to arrive on the market at the end of Q2."

NO! It does not represent a delay - because no-one ever said they would be introduced by Q2 2010.

Here's the roadmap (this revision is from February):

http://developer.symbian.org/wiki/index.php?title=Symbian^3&oldid=42404

It clearly says 'Handsets from H2 2010'.

  #3  
Old 22-04-2010, 11:41 AM
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Nokia shares - 13% post announcement, Apple +14% : whilst you may deride the markets long term predictive abilities it`s ability to forecast the each companies future profitability over the last 3 quarters has been absolutely correct. After all Apple make the same revenue selling only 8.7m phones. Also the falling average handset price demonstrates that Nokia have only been able to succeed by pushing out cheaper low end devices (I would love to see comparative figs for YoY and QoQ smartphone average handset prices.

Yes the 1% smartphone growth to 41% is positive but relying soley on the bottom end is playing with fire given wave of Android and possibility of iPhone Nano.

Nokia desperately need to reoccupy the higher end and I think the N97 is going to haunt them here.

  #4  
Old 22-04-2010, 11:48 AM
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Interesting and positive results. Also good to see Nokia admitting that they don't have anything to compete against the iPhone and the new Android handsets at the high end. I'm sure they will have come year end but that's the truth of the matter just now.

Nokia obviously realise this and are claiming the low to mid tier market just now. As we all know, the high end market is a precarious one and driven by fashion - what's hot one year isn't the next as the RAZR and N95 have found out - so this makes sense.

As for the analysts, first they get Q4 2009's forecast wrong by underestimating it and then Q1 2010's forecast wrong by overestimating - not to mention the complete balls up they made of Apple's numbers! Do they actually know what they're doing?

  #5  
Old 22-04-2010, 11:54 AM
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3 things spring to mind from reading this:

1.) Good that they have increased market share yet again. Yet more proof, if any were needed, that those saying the Nokia/Symbian/S60 was/is in any way in decline are talking utter rubbish as usual. US tech blogs, and iPhone and Android fanboys, I'm looking at you.

2.) Competitively, at the high end, Nokia are in a little bit of a lull right now - a gear change, or a pit stop for a tyre change. We're between the last bunch of high end Nokia smartphone releases last year and the next super-charged Symbian^3 smartphones. Obviously while they're in that pit stop, competitors gain ground on Nokia, it's obvious and expected. No big deal.

3.) I take note of Brendan Donegan's comment above that there has been no delay, and either way I am glad that Nokia is taking the time to get it's next crop of smartphones right. If they have decided to beef things up in certain areas to be more competitive, or decided to take a bit of extra time to ensure the new releases are as shiny and good as they can be, that's all fine with me (in contrast to the whingers after the release of the C-series the other day). Nokia have more than enough market share and installed base to afford to take time getting things right, as we have seen from them growing market share during this competitive pit-stop. It is certainly also good that they are full steam ahead on service improvements and delivery (e.g. free nav, ovi store improvements etc) as software is a more fast-paced arena.

  #6  
Old 22-04-2010, 12:32 PM
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I have updated the story to reflect the delay issue. To be fair OPK has just said on the conference call that Nokia's Symbian^3 device is behind the internal schedule for this. We are only talking about a few weeks (6-ish maybe) - and it just happens to be at the end of a quarter...

snoFlake - agreed - market is good short term, but performance is not the same as long term strategy (as we have both said in past). I think you can see that all players in this market have stuff coming up that is going to be both positive and negative...
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  #7  
Old 22-04-2010, 12:41 PM
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I don't know anything about what goes on inside Nokia (not really true, but certainly nothing to do with device release schedules), but I was just pointing out that our *public* roadmap has had H2 as the estimate for quite some time. When do Apple plan to release the new iPhone? I wager it's no earlier than the end of June.

  #8  
Old 22-04-2010, 12:41 PM
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You didn't look at the geographical split. Nokia dominate in Africa and Latin America. In the other more important markets they aren't doing too well. :(

  #9  
Old 22-04-2010, 01:41 PM
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Originally Posted by Unregistered View Post
Nokia dominate in Africa and Latin America. In the other more important markets they aren't doing too well. :(
Really? Seems they're doing pretty well to me, if you read the relevant sections of the doc. They had a 27% fall Year on Year in North America, but so what, the US is a minor mobile market globally (despite the amount of hype and hot air coming out of there) and Nokia traditionally doesn't do well in the US. APAC fell 3% too but again so what, Nokia practically own the region - even in smartphones alone Symbian devices (mostly Nokia) command over 80% smartphone market share there!
And every other region saw growth between 2% and 42%. That's not "aren't doing too well".
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  #10  
Old 22-04-2010, 01:51 PM
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This just shows Nokia needs high end phones, low and middle ware phones just don't cut it when it comes to revenue and profit.

Nokia are leading the market share but low end phones have razor thin margins, just compare this to the iPhone (inevitable), sold only 8.7 million units this quarter but made US$ 5.78 billion in revenue close to half of Nokia's total and this from nothing in only 3 years!

High end phones have high margins and buyers are more willing to spend money on applications and services.

Nokia needs to release mind-blowing new Symbian 3 phones soon.

I hope they do, but right now Nokia are off my buying list, and most of the people I know with disposable income.

  #11  
Old 22-04-2010, 02:05 PM
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I find it very hard to sympathize with Nokia after the N97 debacle. Nokia's "high-end" flagships have been hobbled by some extremely poor engineering choices. And far from fixing those problems, they continue to perpetuate designs based on underpowered chips with inadequate memory - witness the new C series. It's as if they insist on passing off those outdated components - even to high-end consumers -hoping no one notices the inferior performance. This has everything to do with leadership and management decision.

  #12  
Old 22-04-2010, 02:38 PM
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I won't kick Nokia while they're down (the stock), but I will say that they're pinning all their hopes to Symbian 3 for a turn-around. They better hope it works out for them; another N97/E72 type of experience will surely doom them to scratching out some kind of a profit on throwaway low end phones.

My i8910 running S60v5 is only still around due its fantastic camera and great video playback, but it very likely is my last Symbian device. If I go with Nokia, it will only be with something running Meego, if it finally starts actually shipping that is.

  #13  
Old 22-04-2010, 03:06 PM
Mr Mark Mr Mark is offline
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Making over a billion dollars a quarter profit from their handset division isn't 'scratching a profit'.

Nokia will not be changing their low/mid tier strategy - why should they? It clearly works. Symbian^3 is about getting some of the high end back and, frankly, I'd rather wait until they get it right.

  #14  
Old 22-04-2010, 03:06 PM
snoFlake snoFlake is offline
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Looking at market cap, profitability and cash reserves rather than rumoured bid for ARM Apple should take over Nokia - instant low end portfolio and developing nation penetration and really great new open source OS

  #15  
Old 22-04-2010, 03:22 PM
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Been waiting for almost 2 years for Nokia to go bust. Guess what? It hasn't happened!!! Profit is profit no matter how you cut it. That they are able 2 maintain market share without being able to compete at the high-end, doesn't that tell you something about their strenght? The high-end devices will come! What is it about that, that you don't understand? You keyboard analysts are just so full of yourselves!
 

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