Share prices increase by 6.8%

After the chief of symbian ranaway due to peronal reasons yesterday,Today is a day of reckoning for Nokia. They posted their Q3 results . And they beat expectations by posting operating profits of 529 million euros.And as a consequence share prices increased by 6.8%.

Here is the link for the full report.

Overall points to be noted :

  • Nokia mobile device volumes were 110.4 million units, up 2% year on year and down 1% sequentially. This is set against estimated industry volumes of of 364 million units, up 14% year on year and up 8% sequentially. Nokia’s overall (phones) market share was 30%, down 4% from Q2 2009 and down 3% from Q2 2010 (note: Nokia changed the way in calculates market share earlier this year).
  • Average selling price (across all devices) was €65, up from €64 in Q3 2009 and up from €61 in Q2 2010. Nokia says these changes were mainly due to a higher proportion of converged devices sales and currency fluctuations.
  • The average selling price of Nokia’s smartphones was €136, down from €142 in Q2 and €190 in Q3 2009. This reflects the increased proportion of cheaper smartphones in Nokia sales. Nokia says this is consistent with their strategy to take the smartphone to a wider group of consumers.
  • Smartphone shipments in the quarter were 26.5 million (up from 24.5 million in Q2 2010 and 16.4 million in Q3 2009). The year-on-year increase in smartphone sales was 61% and the quarter on quarter increase was 10%. The increase was driven by improved sales of mid-tier smartphones.
  • Worldwide converged device (smartphone) marketshare was 38%, down 3% sequentially and up 2% year on year. Estimated global market volume (i.e. all manufacturers, all markets) was up to 70.4 million from 47 million, year on year, and from 59 million sequentially. This means that Nokia’s smartphone sales grew just below the average pace of the overall market.
  • Significantly, in Q3 2010, smartphones accounted for more than 50% of Devices and Services net sales (€3,613 million versus €3,560 million).
  • Ovi Store downloads are now 2.7 million per day (equivalent to almost 1 billion per year).
  • The number of miles navigated using Ovi Maps doubled in Q3 to 2.5 million km per day.
  • Ovi Mail and Chat signups have now surpassed 17 million accounts.

via allaboutsymbian

In other news, CTO of Nokia, Rich green talked about the future of technology at nokia, here is the video :

And here is the press release snippet:

You can buy a Nokia smartphone confident that any improvements introduced later to the Symbian platform, such as the user interface, can be made available to download on your device as well. No need to wait for Symbian^4 – the improvements we were planning for Symbian^4 will be introduced as and when they become available. In fact, we will no longer be talking about Symbian^3 or Symbian^4 at all – it will be one constantly evolving and constantly improving platform.

Here the main things we should note are :

* There s no more symbian^4, everything is symbian now, its streamlined now. Benefit is that symbian^3 users will get all the features and new qt UI through updates.But there s no word on Symbian^1 though.

* Hereafter all applications will be in qt, even nokia made apps . No more slow and crappy WRT , hurray !!

* The new web browser is coming in qt and it supports HTML5, and HTML 5 is built into the webkit core so that it can be also used for making apps.

And the new CEO Stephen Elop has some things to say overall :

On Nokia overall:

In the five weeks since joining Nokia, I have begun the journey of listening, learning and adjusting. Indeed, I have already had the opportunity to interact with literally thousands of employees, as well as customers and partners.

At the highest level, what I have initially found is a company with many great strengths and a history of achievements that are second to none in the industry. And yet our company faces a remarkably disruptive time in the industry, with recent results demonstrating that we must re-assess our role in and our approach to this industry.

I would characterize Nokia as a landscape of unpolished gems. Whether it is the degree of intimacy we have established with millions of consumers around the world, our naturally aligned worldview with operators, ground-breaking technological capabilities in everything from optics to nanotechnology to haptics, our strengths in emerging markets, or our assets in location-based services, there is an embarrassment of riches within Nokia.

On Qt:

Perhaps the greatest strength in the area of platforms, however, is also another example of an unpolished gem, and that relates to the use of Qt – spelled Q T – as a cross-platform environment for the development of applications that can reach, ultimately, across much of our portfolio. Qt will offer application breadth and reach that is unrivaled in the industry.

On North America

There is no systemic reason that Nokia cannot succeed in North America. I believe there is a degree of focus and execution necessary, along with different patterns of doing business, that can drive success in that marketplace.

On MeeGo:

There have been various comments made at various points in time about the anticipated availability of our first MeeGo device and versions of the MeeGo software. My first impressions of our MeeGo work inspires both confidence and excitement, however it is also clear to me that our first MeeGo device will be a 2011 event.

So , there you go, straight from the CEO’s mouth, Meego coming 2011, only. bit of a disappointment on this , but happy that N8 will be getting the new qt UI and all the new features. Hope Developers start coding in QT.

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Comments on: "Nokia posts Q3 results | Big Qt/Symbian announcements made" (1)

  1. […] This post was mentioned on Twitter by Bharadwaj, Bharadwaj. Bharadwaj said: Nokia posts Q3 results | Big Qt/Symbian announcements made: http://wp.me/p13Fg3-7Y […]

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