Asia Bizz: Nokia, the once leader in the smartphone market, has taken a massive blow since a couple of years and this quarter the figures show, the Finnish phone company contributed to only 31% of the global smartphone market. Worse, the operating profit of Nokia has take a strong beating due to its under performance.
Stephen Elop, the CEO of the company, has said, Nokia is still growing, as a matter of fact the company has been there longer than any other phone company in the world, and others have moved ahead of it. In terms of units sold, Nokia sold only 28.3 million in the Q4 of 2010, and this was quite discouraging rather to fact that it is an improvement compared to 20.8 million seen last year.
Speaking of the smartphone market, it has taken a heavy beating here, especially when it has been compared with other phones. The share shrunk to a mere 31% compared to the 40% in the Q4 of 2009 and 38% in the Q3 of 2010. Operating profit has fallen from â‚¬1.47 billion where â‚¬950 million was net profit, to â‚¬1.09 billion of which â‚¬745 million is net profit. The top of the line phone for Nokia today is the N8, and the company has not yet disclosed its sales figures.