Nokia releases Q2 2010 results; profits down, market share flat

It’s that time again when Nokia posts their financial report and we find all the numbers in their 2nd quarter 2010 report. I am not a business major or financial guru so I don’t understand all of the numbers in the report, but All About Symbian gives you a nice breakdown and includes some comments from the earnings call that help explain some of the numbers and discusses the future of Nokia. Overall, Nokia is still the worldwide leader by a mile (staying flat at about 41%), but they do need to address the higher end of the market and release compelling products. It is interesting to look at that last figure in the AAS article and see that RIM and Nokia are on a steady incline in mobile OS shipments while the iPhone is flat and Google Android is on a meteroic rise over the last year. Windows Mobile is on a slight decline, but this will change when Windows Phone 7 is released.

Even if Nokia did nothing different, they would continue to be the worldwide leader in market share for some time. However, in people’s minds they are not much of a consideration for high end smartphones and that must change for Nokia to increase market share and continue in this leadership role. Their profits are down at the moment due in large part to their poor performance in the high end market. The last flagship product, the Nokia N97, is a year old and had “issues” and there has not really been such a product since that time. A lot is riding on the success of the Nokia N8 and if Nokia disappoints again then I fear they will lose even more mind share and possibly market share. We cannot see things like low memory warnings with the N8 and with so many other fantastic devices now flooding the market Nokia has a high standard to meet. They can do it and as a Nokia fan I sure hope they deliver.

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