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Nokia Q1 results are out, Symbian 3 OS Delayed

Nokia has announced their financial results for the first quarter of the year. The good news is, their revenue and profit is higher than last year’s.

And the bad news is Symbian ^3 OS- it has been delayed, though the first device is expected to be announced in the first half. Could it be Nokia N8-00?

First Quarter 2010 highlights

  • Nokia net sales of EUR 9.5 billion, up 3% year-on-year and down 21% sequentially (up 1% and down 21% at constant currency).
  • Devices & Services net sales of EUR 6.7 billion, up 8% year-on-year and down 19% sequentially (up 7% and down 19% at constant currency).
  • Services net sales of EUR 148 million, down 12% sequentially; billings of EUR 228 million, up 1% sequentially.
  • Nokia total mobile device volumes of 107.8 million units, up 16% year-on-year and down 15% sequentially.
  • Nokia converged mobile device (smartphone and mobile computer) volumes of 21.5 million units, up 57% year-on-year and up 3% sequentially.
  • Nokia mobile device ASP (including services revenue) of EUR 62, down from EUR 64 in Q4 2009.
  • Devices & Services gross margin of 32.4%, down from 33.8% in Q1 2009 and 34.3% in Q4 2009.
  • Devices & Services non-IFRS operating margin of 12.1%, up from 10.4% in Q1 2009 and down from 15.4% in Q4 2009.
  • NAVTEQ non-IFRS net sales of EUR 189 million, up 41% year-on-year and down 16% sequentially (up 46% and down 18% at constant currency).
  • Nokia Siemens Networks net sales of EUR 2.7 billion, down 9% year-on-year and down 25% sequentially (down 12% and 27% at constant currency).
  • Nokia Siemens Networks non-IFRS operating margin of 0.6%, up from -4.1% in Q1 2009 and down from 5.5% in Q4 2009.
  • Nokia operating cash flow of EUR 1.0 billion.
  • Total cash and other liquid assets of EUR 9.7 billion at the end of Q1 2010.
  • Nokia taxes were unfavorably impacted by Nokia Siemens Networks taxes as no tax benefits are recognized for certain Nokia Siemens Networks deferred tax items. If Nokia’s estimated long-term tax rate of 26% had been applied, non-IFRS Nokia EPS would have been

Nokia Q1 financial report can be downloaded here(PDF)

About Kugan

Kugan is the founder of MalaysianWireless. He has been observing the mobile industry since 2003. Connect with him on Twitter: @scamboy