Nokia Rev & Net Chart | Key Challenges

€mils

Here are some key challenges that came out of Nokia's Q1 2010 earnings report today:

• Although Apple only sells 40% as many smartphones as Nokia, their sales grew much faster in Q1 (131%) compared with Nokia's (50%)
• CEO Olli-Pekka Kallasvuo: "We continue to face tough competition with respect to the high end of our mobile device portfolio, as well as challenging market conditions on the infrastructure side."
• According to mocoNews Nokia's content service revenues declined 12% compared with Q1 2009
• NAVTEQ sales were up 41% compared with Q1 2009, but down 16% compared with Q4 2009
• US market share has dropped to a paltry 2.7%
• The first Symbian^3 device has been delayed until Q3 2010
• Nokia expects revenues in Q2 2010 to be between €6.7bil & €7.2bil, which is either a 28% or 22% decline from Q2 2009
• Nokia (NOK) stock was down more than 15% in early trading today