Results for the second quarter of 2011: a disaster

Company financial results are not usually exciting reading, but when Nokia released its latest results, they were nothing short of shocking. Sales of Nokia smartphones have fallen dramatically, and the founder of this genre is now fighting for second and third place. Apple has taken the top spot in smartphone sales, with Samsung in third place.

Sales of regular phones have also fallen. Until now, Nokia was used to being the only company selling more than a million phones a day. That is no longer the case. It is not selling.

And what’s worse, Nokia lost money on its mobile phone division (€247 million) for the first time in its history, as well as on the company itself. To be precise, it would have broken even, but when you deduct the one-off and non-recurring half-billion euro income from the patent dispute with Apple (the companies agreed on a financial settlement), Nokia fell into a loss as high as it had previously been able to earn from its phone division alone.

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