Nokia Q1 2012 Report

I’ve got a meeting to go to right now, so I’ll just share this very quickly:

http://www.results.nokia.com/results/Nokia_results2012Q1e.pdf

Key points:

– Q1 2012 net sales of EUR 7.4 billion (Q1 2011: EUR 10.4 billion)
– Non-IFRS EPS of EUR -0.08 and reported EPS of EUR -0.25
– Losses incurred due to greater than expected competitive challenges and seasonality; reported
losses also primarily driven by charges related to restructuring activities
– Implementation of smartphone strategy proceeding:
o Expansion of Lumia portfolio to cover higher and lower price points (Lumia 900 and Lumia
610 announced in Q1)
o Expansion of geographic coverage to 45 countries currently (31 new countries in Q1)
o Encouraging launch of Lumia 900 with AT&T in US in April
– Renewing feature phone portfolio with 7 new Asha products ramping up
– Taking action to drive improvements in the trajectory of Lumia sales and to support feature
phone sales
– Plans to accelerate and substantially deepen Devices & Services cost savings, consistent with
strategic focus. Nokia will share further details as quickly as possible.
– Balance sheet remains strong with EUR 9.8 billion of gross cash at end-Q1; EUR 4.9 billion of net
cash at end-Q1
– Estimates that current annual IPR royalty income run-rate is approximately EUR 0.5 billion

Big old F on this report, eh?

Category: Nokia