Nokia lowers second quarter expectations

Competition from smartphone makers continues to put pressure on the number one phone maker

Facing continued pressure from Apple and other smartphone makers, Nokia on Wednesday warned that its second quarter earnings would be lower than expected.

The company blames competition at the high end of the market, a shift in product mix toward lower margin products and the depreciation of the euro.

Sales for its devices and services business will be at the lower end or slightly below previous guidance of €6.7 billion ($US8.2 billion) to €7.2 billion, Nokia said. That's primarily due to lower-than-expected average selling prices and device volumes, it said.

While Nokia continues to expect its market share for the full year 2010 to remain the same as 2009, it expects its so-called device value market share to drop slightly. Device value market share is revenue share. The company had expected to slightly grow its mobile device value market share in 2010.

Nokia will report second quarter results on July 22.

While it is still the world's largest handset maker, Nokia is losing market share in the growing smartphone segment. It is working on releasing new phones based on a revamped Symbian OS as well as a new Linux OS called MeeGo. But while it works on those, competitors such as Apple, Google and Research In Motion continue to release popular smartphones.

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags NokiaApplesmartphonequarterly earnings

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Nancy Gohring

IDG News Service
Show Comments

Cool Tech

Breitling Superocean Heritage Chronographe 44

Learn more >

SanDisk MicroSDXC™ for Nintendo® Switch™

Learn more >

Toys for Boys

Family Friendly

Panasonic 4K UHD Blu-Ray Player and Full HD Recorder with Netflix - UBT1GL-K

Learn more >

Stocking Stuffer

Razer DeathAdder Expert Ergonomic Gaming Mouse

Learn more >

Christmas Gift Guide

Click for more ›

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?