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Edition: U.S. Article Comments (2) Video Technology Apple to beat Google on cloud music storage: sources Amazon cloud disruption hits some startups The cloud is not just about storage Microsoft plans sweeping pay rises: CEO memo iPhone boosts Verizon customers, hurts profit Nokia Q1 beats forecasts, nails Microsoft deal Apple phone revenues beat Nokia: Strategy Analytics NY Times gains online subscribers Video: Royal Wedding 2.0 - you're invited Follow Reuters Facebook Twitter RSS YouTube Read "American Idol" mulls voting tweaks to fix boy bias 20 Apr 2011 Supporters of WikiLeaks soldier heckle Obama 2:38pm EDT Dollar tumbles broadly; all-time index low in sight 3:11pm EDT Lawsuits fly in BP's Gulf spill blame game | 3:27pm EDT Archbishop praises "unpretentious" Kate and William 12:35pm EDT Discussed 97 Palin returns with feisty, anti-establishment speech 48 Budget vote shows challenge for Boehner, Obama 43 Obama private comments show fight with Republicans Watched VW unveils new sporty Beetle Mon, Apr 18 2011 Apple, AmEx, Yum top forecasts 3:38am EDT Oscar-nominated director killed in Libya 6:05pm EDT SMALL BUSINESS Entrepreneur's Edge: Instant translation on your smartphone When Otavio Good released the first video of his Word Lens translation app in use, it became a viral phenomenon. Since then he's been busy recruiting programmers to help roll it out to include more languages beyond the original Spanish. Full Article | Video New app calculates calories through photos of food Common budget mistakes for tech startups Nokia sees weaker times after strong first quarter Tweet Share this By Tarmo Virki, European Technology Correspondent HELSINKI (Reuters) - Nokia Oyj warned operating profit margins at its key phone unit would slip through the rest of the year, taking the shine off higher-than-expected first-quarter earnings on... Email Print Related News Instant view: Nokia Q1 earnings beat expectations 6:42am EDT Analysis & Opinion Tech wrap: Apple raises the earnings bar White House in a pickle over its GM exit plan Related Topics Technology » Deals » Global Deals Data 2011 Q1 » Inflows Outflows » Media » Stocks Related Video Nokia dials up Q1 surprise 3:26pm EDT A corporate logo is displayed at the Nokia flagship store in Helsinki September 29, 2010. Credit: Reuters/Bob Strong By Tarmo Virki, European Technology Correspondent HELSINKI | Thu Apr 21, 2011 12:15pm EDT HELSINKI (Reuters) - Nokia Oyj warned operating profit margins at its key phone unit would slip through the rest of the year, taking the shine off higher-than-expected first-quarter earnings on Thursday. The company signed a final agreement to start using Microsoft Corp software, enabling it to slash annual costs by 1 billion euros ($1.5 billion). Yet it faces an awkward transition in which profitability is getting squeezed. Nokia's key phone unit reported an operating profit margin of 9.8 percent for January-March, well ahead of analysts forecast of 8.6 percent, but the group said for the full year the margin would fall to within a 6 to 9 percent range. Analysts on average had expected the margin to drop to 8.5 percent. "Finalization of the agreement with Microsoft means Nokia can now focus on execution, but margin guidance underlines that difficult times lie ahead as it transitions the portfolio," said analyst Geoff Blaber at CCS Insight. Nokia's underlying earnings per share fell to 0.13 euros in the three months through March from 0.14 a year earlier, beating analysts' average forecast for 0.10. Market share fell to 29 percent from 33 percent as nimbler Asian rivals ate into Nokia's dominant position in cheaper phones and it continued to lose out in more expensive smartphones to Apple Inc and others. While Nokia's position slipped in the quarter, Apple scored record sales, overtaking the Finnish firm as the largest cellphone maker by revenue, research firm Strategy Analytics said. To turn around its smartphone fortunes, Nokia's new Chief Executive Stephen Elop in February unveiled a deal to start using Microsoft software instead of its own Symbian platform. Uncertainty over the Microsoft deal, including how much cost cuts it would yield, has helped drive Nokia shares down around 30 percent since the deal was unveiled. Part of the savings will come from job cuts, talks on which will start next week, but Nokia said laid off staff would remain on the payroll through this year. NIL-NIL Shares in Nokia were 0.6 percent lower at 5.90 euro by 1430 GMT in Oslo, compared with a 0.7 percent fall in the STOXX Europe 600 Technology Index. The shares, which had initially risen following the results, are now worth less than a tenth of their record high of 65 euros set in 2000. "It's a bit of a no-score draw really. You've got a solid set of numbers but guidance is bad," said Richard Windsor, technology specialist at Nomura. "You've got a little bit of relief going on today but it probably doesn't have legs in it." Nokia forecast second-quarter sales at its phone unit would fall to between 6.1 and 6.6 billion euros, well below analysts' average forecast of 6.9 billion, partly due to component shortages stemming from the March earthquake in Japan. Despite its bargaining power analysts say Nokia is likely to be among the phone makers worst hit by the disruption to supplies from last month's devastating Japanese earthquake. It makes 450 million phones a year, which means quick and big changes in component supply are difficult. "We are anticipating the supply situation in Japan will become more visible, more concrete, less an issue as we move into the Q3 with still some impact. But the Q2 is the most difficult," Elop told analysts on a conference call. Nokia's smaller rival Sony Ericsson said this week there were shortages of displays, batteries, camera modules and some printed circuit boards. Nokia's telecom network gear arm Nokia Siemens Networks reported a surprise profit for the quarter and said Chinese regulators had approved its $975 million acquisition of Motorola Solutions' gear business, clearing the last major hurdle for the deal to go through. The deal, which Nokia Siemens expects to close on April 29, will make the venture the second-largest globally and give it better access to the North American market. (Additional reporting by Terhi Kinnunen in Helsinki, Georgina Prodhan in London and Mia Shanley and Simon Johnson in Stockholm; Editing by David Holmes and Jon Loades-Carter) Technology Deals Global Deals Data 2011 Q1 Inflows Outflows Media Tweet this Share this Link this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (2) socratesfoot wrote: Beginning of the end for WP7…Garter and IDC based their speculation of WP7 usage being so high by 2015 largely on the premise that Nokia and MS were merging. But, the only way to get their numbers was to assume that every owner would migrate from Simbian to WP7 and every current user would keep their phone. So it stands to reason that the original numbers become increasingly less as Nokia looses market share. The drop from 33% to 29% alone makes them only slightly higher now then iOS by their own projections. Projections which were unrealistically optimistic to begin with. If Nokia market share drops globally to 23% or lower before WP7 can be fully implemented. There is literally no way their projections could possibly work, even in the best case scenario that none of the WP7 users migrate to Android over the next 3 years. Apr 21, 2011 8:18am EDT -- Report as abuse ulludapattha wrote: It surprises me profoundly that Nokia’s new CEO Stephen Elop has not yet realised one basic shift in the fundamentals of mobile phones: mobile phones have now increasingly become a fashion product. Even market studies reveal, that most smartphone users are young 14 to 30 year old fashion and trend conscious youngsters. Apple’s phenomenal success with the iPhone largely stems from this basic change in the mobile phones landscape ever since the iPhone was launched almost 4 years ago. Nokia has yet to catch up. I wonder, what was the marketing logic behind Stephen Elop’s attempt in trying to peddle Nokia’s Symbian- based Astound snmartphone on the American market in March after first announcing on February 11 at London that Nokia is dumping the Symbian platform as “it has no possibility of success in the future”. Americans are not so dumb to shell out their money and buy a dying workhorse. Besides, there is no guarantee that the Windows7 phone will succeed either. Is Mr. Elop not aware of this controversial ” love-hate Microsoft” feeling that most youngsters have all over the world. They love the iPhone and now even phones based on the Android platform because all their friends too have them. It’s a question of “keeping up with the Jones” in this era of social networks, where young people need to be accepted by their pals. It’s as simple as that. When will Nokia realise this fundamental shift in consumer taste? WP7 may – at best- succeed in the older age group corporate business sector . That won’t suffice to make a “Micronokia WP7″ phone a hit. Apr 21, 2011 9:22am EDT -- Report as abuse See All Comments » Add Your Comment Social Stream (What's this?) © Copyright 2011 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback Mobile Newsletters RSS Podcasts Widgets Your View Analyst Research Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Super Lawyers Attorney Rating Service Reuters on Facebook Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. 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