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Edition: U.S. Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read Israeli navy seizes Gaza-bound yacht 11:48am EDT Universal pulls plug on Stephen King's "The Dark Tower" 18 Jul 2011 Exclusive: Euro zone paper points to bank tax to fund 10:36am EDT BofA reports $8.8 billion net loss, worst ever 10:33am EDT Goldman profit misses badly, rattles Wall Street 11:46am EDT Discussed 101 Obama asks lawmakers to gauge support for debt deal 60 Fallback plan gains momentum in debt talks 60 Obama eyes more deficit talks with no deal in sight Watched Pakistan Taliban releases video of mass execution Mon, Jul 18 2011 Flying sphere goes where man fears to tread Thu, Jul 14 2011 Japan's winning team returns home 2:12am EDT Basic Nokia phones more profitable than smartphones Tweet Share this Email Print Related News Philips dims outlook after shock 1.3 billion euro loss Mon, Jul 18 2011 Sony Ericsson counts cost of Japanese disaster Fri, Jul 15 2011 Exclusive: Apple tests new chips with TSMC Fri, Jul 15 2011 Bernanke halts Wall Street rally; Google soars late Thu, Jul 14 2011 Google smashes Street expectations, shares surge Thu, Jul 14 2011 Analysis & Opinion Tale of two defendants: HTC, Nokia fates diverged in Apple case The Debt Ceiling: Wanting to Believe Related Topics Technology » Hot Stocks » Asian Markets » The Nokia N9 smartphone is displayed at a Nokia news conference in Espoo, June 21, 2011. Credit: Reuters/Heikki Saukkomaa/Lehtikuva By Tarmo Virki, European Technology Correspondent HELSINKI | Tue Jul 19, 2011 11:52am EDT HELSINKI (Reuters) - Nokia's basic phones generate much better operating profits than its smartphone line-up, the Finnish mobile phone company said on Tuesday when unveiling regrouped past business results. Margins for both businesses have been shrinking as the company has lost basic phones market share to Asian rivals, while Samsung Electronics, HTC and Apple have eaten its share of the smartphone market. Smartphone operating profit margin, which the company called contribution margin in the statement, fell to 6.2 percent in the first quarter from 10.4 percent in the year-ago period. The margin on basic phones fell to 16.5 percent from 19.4. When compared with rivals, the numbers still overestimate unit margins because some costs for the businesses are split into a separate "others" accounting line. "These numbers show how behind Nokia smartphone margins are compared with its rivals," said IDC analyst Francisco Jeronimo. For example, smartphone-focused HTC reported operating profit margin rising to 15.8 percent in the first quarter. "Nokia has been tackling the decline of its smartphone market share by focusing on the mid-tier price points and price cuts, which has had a straight impact on margins and profits," Jeronimo said. Nokia Chief Executive Stephen Elop is pinning turnaround hopes on new smartphones using Microsoft's Windows software, but these will only be available later this year. Nokia's share price has halved since February -- when it unveiled the shift to Windows -- on worries it will lose a lot of market share before the new phones reach stores and that it may never regain this. Shares in Nokia were 2.1 percent higher at 3.88 euros by 10:49 a.m. EDT -- helped by WestLB upgrading the stock in the belief all negative news had now been priced into the shares -- and roughly in line with a rally in technology shares. Nokia is expected to report a sharp fall in second-quarter results when it reports earnings on July 21 around 6 a.m. EDT. (Editing by David Hulmes) Technology Hot Stocks Asian Markets Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. 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. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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Basic Nokia phones more profitable than smartphones |
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