Nokia released its first quarter results today. And the key metrics are all down.
Here are some interesting down, down, down statistics from Nokia’s First Quarter results:
* Nokia Operating Profits Down 96% year-over-year
* Nokia Sales Down 27%
* Nokia Earnings Per Share Down 91%
* Nokia Mobile Device Volumes Down 19%
* Nokia Mobile Device Market share Down to 37% from 39% a year ago
Folks, we are in for a long recession or worse, even a long depression.
Hang on to that old Nokia phone with a million scratches and don’t even think of buying a new one.
Nokia – Down, Down and Down added by SearchIndia.com on
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But how’s this possible, when every other person operates a Nokia handset?
SearchIndia.com Responds:
Many reasons…
* People are not replacing their phones these days as frequently as before because of the troubled economic times
* Nokia is not that big in the U.S., a very big market
* Nokia’s share in smartphones (a fast-growing category) is not impressive and losing ground
* Apple has all buzz and the mindshare in the U.S. with its iPhone and increasing its marketshare in the smartphone category