Nokia Q2 2010 Results

The Nokia Q2 2010 results are in and they do not bode well for the telecommunications giant. As with all quarterly earnings reports that show a decline in profits pressure is expected to mount on their CEO Olli-Pekka Kallasvuo. The Nokia Q2 2010 results show that earnings per share fell 27% from 2009 to 0.11 euros as Nokia faces extreme competition from Apple and HTC.

Nokia Q2 2010 Results

The major problem lies in smartphone technology, something Nokia has been really slow to get to grips with. Despite having a technologically superior product in the E45 a few years back Nokia failed to capitalise on its early promise with poor marketing and a lack of understanding in what consumers wanted from a smartphone.

With HTC making serious inroads and Apple’s iPhone continuing to dominate it is unsure as to whether Nokia will be able to weather the storm. Without a market leader smartphone at the ready it may be some time before thing turn around.

Despite this setback Nokia has recently chosen to purchase Motorola’s wireless services in the US which suggests that Nokia may be able start its own network in which to utilise its phones and draw business away from Verizon and Sprint. But as the Nokia Q2 2010 results show it appears that the company will have to spend now, in order to turn around trends and post profits later.