Nokia Q1 2011: Profit Falls, Sales Increase

Nokia has declared its financial results for Q1 2011 and as expected and predict shows 1.4 percent decline in profit. The net income is calculated 344 million Euros (around $500) as compared to last year’s 349 million Euros.

While the sales have jumped by 9.2% to 10.4 billion euros.Smartphones sales increased by 6 percent resulting into 7 billion euros.

Nokia shipped 108.5 million mobile devices in Q1 2011 in total, up 1 percent year-on-year.

Nokia’s mobile market share was 29 percent in Q1 2011 as compared to last year first quarter 33 percent.

The company expects operating margins from its handset business to fall in Q2. With many other market players like iPhone, Android, and last but not the least Blackberry, Nokia is facing intense competition insmartphone segment.