Finnish handset maker Nokia Corp. (NOK) on Tuesday provided historical financial results for its Devices & Services business, which are regrouped for comparability purposes according to the company's four reportable segments that became effective from April 1, 2011.
Nokia's four reportable segments effective from April 1, 2011 are smart devices as well as mobile phones, both within the Devices and Services business, in addition to the company's digital mapping unit NAVTEQ, and Nokia Siemens Networks.
Nokia's net sales of smart devices in the first quarter of 2011 were 3.53 billion euros, while mobile phone sales were 3.41 billion euros. Devices & Services' sales in the quarter were 7.09 billion euros. Nokia Group sales in the quarter were 10.40 billion euros and the company's operating profit was 439 million euros.
In the year-ago first quarter of 2010, Nokia's net sales of smart devices were 3.36 billion euros, while mobile phone sales were 3.19 billion euros. Devices & Services' sales for the quarter were 6.66 billion euros. Nokia Group sales in the quarter were 9.52 billion euros, while the company's operating profit was 488 million euros.
In the 2010 second quarter, the company's net sales for smart devices were 3.50 billion euros. Mobile phone sales were 3.19 billion euros. Devices & Services sales were 6.80 billion euros. Nokia Group sales in the quarter were 10 billion euros, while the company's operating profit was 295 million euros.
Nokia's sales of smart devices in the third quarter were 3.61 billion euros, while sales of mobile phones were 3.36 billion euros. Devices & Services sales in the quarter were 7.17 billion euros. Nokia Group sales for the third quarter were 10.27 billion euros, while operating profit was 403 million euros.
In the fourth quarter, Nokia's sales of smart devices were 4.40 billion euros, while mobile phone sales were 3.95 billion euros. Devices & Services sales in the quarter were 8.50 billion. Nokia Group sales in the quarter were 12.65 billion euros, while operating profit was 884 million euros.
For fiscal 2010, net sales of smart devices were 14.87 billion euros and sales of mobile phones were 13.70 billion euros. Devices & Services sales in the year were 29.13 billion. Nokia Group sales were 42.45 billion euros, while the company's operating profit was 2.07 billion euros.
In late May this year, Nokia reduced its second-quarter targets for net sales and non-IFRS operating margin at its Devices & Services segment as the company continued to face pricing pressures. Nokia said it expects net sales in the segment to be substantially below its previous guidance of 6.1 billion euros to 6.6 billion euros, primarily due to lower than expected average selling prices and mobile device volumes.
Nokia is slated to report its financial results for the second quarter on Thursday, July 21. Analysts expect the company to earn $0.03 per share for the quarter on revenues of $13.04 billion.
In Tuesday's trading, NOK is trading at $5.56, up $0.14 or 2.49 percent on a volume of 4.91 million shares.
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