Nokia’s share of smartphones has dropped to 31%, profits are also suffering

The financial results of the first quarter, in which the Nokia CEO was Stephen Ilop, were published, and although the company is still growing, it seems that the rest are ahead of it. Nokia reports that sales of “combined mobile devices” (in other words, smartphones) reached 28.3 million in the fourth quarter, which is much more than 20.8 million in the same period last year and 26.5 million in the previous quarter. However, in the general context of the smartphone market, this means a share of only 31%, according to Nokia’s own estimates, which is much lower than 40% in the fourth quarter of 2009 and 38% in the third quarter of 2010. Ilop estimates the situation like this:

“In the fourth quarter, we showed good results in all three areas of work, and earned an impressive amount of money. Growth trends in the mobile device market are encouraging. However, Nokia faces significant challenges in terms of competitiveness and management. In a nutshell, the industry has changed, and it's time for Nokia to change faster. ”
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When the current profit falls from € 1.47 billion (€ 950 million in net profit) a year ago to € 1.09 billion (€ 745m net), then it’s really good to change quickly. Nokia still does not disclose N8 sales, but considering that this is the first full reporting period during which the smartphone was sold, it looks like the results are far from desired. Trying again with the N9?