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Nokia reports Q1 earnings; smartphone share dips, profit dips more

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Nokia reports Q1 earnings; smartphone share dips, profit dips more

Nokia on Thursday reported earnings for the first quarter of 2011, which saw the Finnish giant’s smartphone market share dip below 30% for the first time in over a decade. Nokia shipped 24.2 million smartphones in the quarter, which is up a respectable 13% over the same quarter last year. But the market outgrew Nokia by a significant margin, leaving the company’s share of global smartphone shipments at 26% for the quarter. Nokia’s revenue grew by 9% to 10.4 billion sequentially, but operating profit dipped 14% from last quarter to 704 million a 35% decline compared to the first quarter last year. Nokia’s short-term outlook isn’t great: “Following a solid first quarter, we expect a more challenging second quarter,” said Nokia CEO Stephen Elop in a statement. ”However, we are encouraged by our roadmap of mobile phones and Symbian smartphones, which we will ship through the balance of the year. We are fully focused on delivering the needed accountability, speed and results to positively drive our future financial performance.” Nokia announced that it has entered into a definitive agreement with Microsoft ahead of schedule, but this statement might lead us to believe that agreement won’t bear any fruit in 2011. Hit the break for the full press release.

HTC market cap to hit all-time high, surpassing $35B this year

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HTC market cap to hit all-time high, surpassing $35B this year

HTC’s market capitalization is expected to soon surpass NT$1 trillion according to a report on Wednesday from Taiwan Economic News. The company’s market cap recently passed the NT$900 million mark, and analysts believe it will grow beyond NT$1 trillion just below $35 billion USD this year. As HTC pushes out popular devices like the EVO 4G, Legend and Desire, the company’s shipments and revenue continue to grow; HTC shipped 25 million devices in 2010, a 111% increase over the prior year, and it forecasts revenue growth of 147% in 2011. Should HTC’s market cap surpass NT$1 trillion this year, it will be just the third company on the Taiwan Stock Exchange to reach the milestone, joining Taiwan Semiconductor Manufacturing Co., Ltd. and Foxconn parent company Hon Hai Precision Industry Co., Ltd.

Windows Phone to overtake BlackBerry in 2013, iOS in 2015 according to Gartner

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Windows Phone to overtake BlackBerry in 2013, iOS in 2015 according to Gartner

Standard & Poor’s downgrades Nokia’s credit rating

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Standard & Poor’s downgrades Nokia’s credit rating

For the first time in thirteen years, Nokia’s credit rating has been downgraded by Standard & Poor’s Rating Service. The Finnish phone maker, which has held an A rating since 1998, has been under the financial microscope in recent years due to the rise of its competitors and, more recently, for its software deal with Redmond-based Microsoft. “The downgrade reflects the revision of our business risk profile assessment on Nokia to ‘satisfactory’ from ‘strong,’” writes S&P in its report. “We expect that Nokia’s smartphone portfolio will make further significant market share losses during 2011 and 2012 until it has completed its adoption of Microsoft’s Windows Phone software as its new primary software platform for smartphones.” The company’s new credit rating is A-. Nokia’s smartphone market share fell 9-points last year, from 40% in Q4 of 2009 to 31% in Q4 of 2011. The company’s stock was trading down slightly on the news.

IDC: Windows Phone will be No. 2 in 2015, passing iPhone and BlackBerry

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IDC: Windows Phone will be No. 2 in 2015, passing iPhone and BlackBerry

IDC on Tuesday released a new report detailing its vision of the smartphone market through 2011 and beyond. The research firm sees global smartphone shipments climbing to 450 million units in 2011, up 49.2% from 303.4 million units in 2010. More interestingly, however, is the firm’s forecast moving through 2011 and into 2015. Ovum had previously estimated that Microsoft’s Windows Phone platform would pass BlackBerry to become the No. 3 mobile OS globally in 2016. Considering the size and reach of Nokia, the flagship Windows Phone partner moving forward, we wondered if the company’s estimates were a bit light. IDC estimates that Nokia will lead Windows Phone past RIM’s BlackBerry OS and Apple’s iOS platform to become the No. 2 smartphone operating system in the world in 2015. Up until the launch of Windows Phone 7 last year, Microsoft has steadily lost market share while other operating systems have brought forth new and appealing experiences, said IDC senior research analyst Ramon Llamas in a statement. The new alliance brings together Nokia s hardware capabilities and Windows Phone s differentiated platform. We expect the first devices to launch in 2012. By 2015, IDC expects Windows Phone to be number 2 operating system worldwide behind Android. Hit the break for the full press release.

Ovum: Android to dominate smartphone growth, Windows Phone will beat BlackBerry

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Ovum: Android to dominate smartphone growth, Windows Phone will beat BlackBerry

In a press release on Friday, research firm Ovum stated that the smartphone market will double by 2016, led by devices running Google’s Android operating system. Ovum predicts that Android will drive smartphone growth moving forward, and that it will amass 38% of the global market by 2016. At that time, Apple will own 17.5% of the smartphone market and BlackBerry maker RIM will hold a 16.5% market share. Despite Nokia’s current seat at the top of the cell phone market, Ovum sees the Finnish giant only helping Microsoft’s Windows Phone platform to eek a 17.2% share of the smartphone market. While this would place Windows Phone in the No. 3 spot ahead of RIM’s BlackBerry OS, it also suggests that Nokia’s share will decline rapidly over the next five years. Ovum predicts that annual smartphone shipments will reach 653 million units by 2016. Hit the jump for the full press release.

Firefox 4 downloads top 6 million in first 24 hours [video]

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Firefox 4 downloads top 6 million in first 24 hours [video]

Mozilla announced on Tuesday that the final release version of its Firefox 4 Web browser was available for download. Within its first 24 hours of availability, the browser was downloaded over 6 million times. Microsoft’s latest browser release, Internet Explorer 9, was downloaded 2.35 million times in its first 24 hours of availability. Version 4 of the popular Firefox Web browser features a variety of enhancements including a redesigned UI, improved tab management and faster performance. Mozilla’s Firefox browser is the second most popular browser in the world according to market share tracker Net Applications. Firefox held a 21.74% global browser share in February, behind Internet Explorer’s 56.77% and ahead of No. 3 browser Chrome, which has grown to 10.93% in a very short period of time. Both Internet Explorer and Firefox have seen their shares decrease over the past year, while Google’s Chrome browser and Apple’s Safari browser have gained popularity. Hit the break for a video highlighting Firefox 4′s new features.