Nokia sales drop 24.6 percent in Q2

The company‘s Devices and Services business recorded sales of Euro 6.6 billion (US-$ 9.3 million) in the second quarter, a decline of 27.5 percent from the same period last year.

According to a press release, the volume of Nokia mobile devices sold reached 103.2 million units, down 15 percent year on year and up 11 percent from the first quarter of 2009. The company‘s mobile device market share reached 38 percent in the second quarter, down from 40 percent in the second quarter of 2008 and up from 37 percent in the previous quarter.

Olli-Pekka Kallasvuo, CEO of Nokia Corporation, commented: “We increased our share of the global mobile device market sequentially to an estimated 38% and grew our smartphone market share to an estimated 41%. As a result of strong operational execution, underlying operating margins improved sequentially in all segments. Competition remains intense, but demand in the overall mobile device market appears to be bottoming out.”

For the full year, Nokia expects the industry mobile device volumes to decline approximately 10 percent from 2008 levels; the company anticipates its market share to be approximately flat in 2009 compared with the previous year.