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Nokia’s Q3 2008 Earnings Report: Definitely Not a Win

October 17, 2008 in Wireless Industry News
Nokia Gets Hit Hard in Q3

Nokia Gets Hit Hard in Q3

Sometime in September, Nokia announced that market share would fall in the third quarter, causing a virtual stock landslide (-11%). Well, the results are in, and yes, market share did fall, along with almost every other metric in the book. But Nokia stock still ended on a high note – some 9.6% higher than the previous day’s close.

The highlights:

  • Profit fell 30 percent, from 1.56 billion euros in 2007 to 1.09 billion euros. Of course, that’s still $2.7 billion US dollars banked in the quarter, but a far cry from last year.
  • Market share dropped to 38% – it was previously 40% in Q2.
  • 118 million handsets were sold in the third quarter. Up from 112 million handsets last year but down from last quarter (122 million sold).
  • Average selling price (ASP) fell to 72 euros ($98 USD), thanks to more sales of lower end phones and depreciation of the US dollar.
  • Expectations for Q4 will be higher than expected, market share may rise a bit.

Nokia’s market share warning definitely took off a lot of the negative heat this time around, but let’s face it – Nokia didn’t exactly drop any stellar phones in the third quarter. Q4 is definitely setting up for some big things, however, when we’ll see the results of the N85, N79, N96, and maybe the 5800 XpressMusic, too.

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