Nokia, the world’s leading manufacturer of mobile handsets, has released its results for the first quarter of 2009, again reporting a drop in profits and number of devices shipped during the period.
Nokia’s first quarter 2009 operating profit decreased 96 percent to US$72.6 million, compared with nearly US$2 billion in the first quarter 2008. The company said its first quarter 2009 non-IFRS operating profit decreased 74 percent to EUR US$678 million, compared with US$2.6 billion in the first quarter 2008.
Nokia’s operating cash flow for the first quarter 2009 was US$364 million while operating cash flow for the first quarter 2008 was US$999 million. Total cash and other liquid assets were US$ 10.6 billion at March 31, 2009, compared with US$ 13.7 billion during the same period last year.
In the first quarter 2009, the total mobile device volumes were 93.2 million units, representing a decline of 19 percent year on year.
Based on its preliminary market estimate, Nokia’s mobile device market share for the first quarter 2009 dropped by two percent during the period. It now holds 39 percent of the market share.
The company said in a statement: “Our year on year market share decline was driven primarily by lower market share in Latin America, Middle East & Africa, Asia-Pacific and Greater China. This was partially offset by a slightly higher market share in North America and Europe. Sequentially, our market share declined in Latin America, Europe and Asia-Pacific, but these declines were offset by market share increases in Greater China, Middle East & Africa and North America. “
