Very quickly top-line numbers. Was all day at mBillionth Awards event here in Delhi (fabulous event, gosh how amazing award finalists and winners. Awesome)
So Nokia Q2 results came out today. Here just the quick numbers, will write more Friday
Smartphone unit sales up 21% from Q1 to Q2, reaching 7.4M units. My prelim market share estimate is 3.4% (up from 2.9% in Q1). Average sales price massive fall from 191 Euros to 157, I think this is a Nokia record collapse in average price for smartphones in just one quarter. The smartphones are still sold at a huge 14% loss per phone. So its pretty bleak. But if you want a silver lining, this is at least an increase in sales. The second time since 2011. So perhaps the bottom of the collapse has now been seen and Nokia may start to stabilize market share. (Yet bear in mind, this was achieved at a huge drop in sales price and still making a loss)
So how is that 'two turkeys don't make an eagle' comment? Before the alliance, Nokia smarpthone market share was 33% in 2010. Its now literally only one tenth of that, at 3.4%. How's that Microsoft thing? They had 5% market share in smartphones before this alliance was announced, now my prelim market share for all Windows Phone in Q2 is 4%.
And who hurt whom? Before Elop's mad Microsoft misadvanture, Nokia grew smartphone sales 52% from 2009 to 2010 (from 68M to 104M). Meanwhile Windows based smartphones declined 20% from 15M to 12M in the same period. I think we see who is the poison in this 'partnership'. And to be clear, Nokia's smartphone unit not only generated a profit back just before Elop made his colossal mistake (and has never produced a profit in any full quarter since this silly idea was announced) but yes, Nokia set a Nokia-record increase in profits that last quarter before this moronic move, and Nokia smartphone unit generated the second biggest profits in the whole smartphone industry behind only Apple. Did I mention since Elop announced this partnership, the smartphone unit has generated a loss every single quarter since.
Ok, more analysis coming tomorrow. But I know some are eager for the top-line numbers. PS Nokia Board, fire Elop now! He is the worst CEO in any Fortune 500 sized company ever.
PS thanks to reader AndThisWillBeToo for catching the error in first version of this.