Nokia posts mediocre Q2, 1% bump in net sales

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Global leader in mobile Nokia, posted their Q2 2010 numbers this morning, and to be honest, they are just okay. The Finnish company posted net sales of €10 billion, which is up 1% year-over-year — but down 4% when adjusted for constant currency — and had net sales of €6.8 billion — which is up 3% year-over-year but again down 2% when adjusted for constant currency. Earnings per share came in at €0.06, down from €0.10 in Q2 of 2010, and Nokia sold a total 111.1 million handsets (it’s odd saying a company sold 111.1 million anythings and had a mediocre quarter). Here is what Nokia CEO, Olli-Pekka Kallasvuo, had to say about his company’s Q2:

Despite facing continuing competitive challenges, we ended the second quarter with several reasons to be optimistic about our future. For one, the global handset market has continued to grow at a healthy pace, led by some of the less mature markets where Nokia is strong. We are also encouraged by the solid second quarter performance of our Mobile Phones business, helped by an improving line-up of affordable models.

In smartphones, we continue to renew our portfolio. We believe that the Nokia N8, the first of our Symbian^3 devices, will have a user experience superior to that of any smartphone Nokia has created. The Nokia N8 will be followed soon thereafter by further Symbian^3 smartphones that we are confident will give the platform broader appeal and reach, and kick-start Nokia’s fightback at the higher end of the market.

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