Nokia Mobile’s finances consolidated in Q3 2021

Q3 sales results are good for Nokia Mobile according to the report created by Strategy Analytics. The wholesale handset revenue went up 28% when compared to the last year, and the average selling price of its devices also increased by 44% YoY. This all helped the operating margin to be the highest ever for the company in this quarter.

Nokia Mobile focused more on the European market for the past two years, and this quarter they managed to ship 17% more devices to Western Europe, which accounts for the third of the company’s overall smartphones volumes. Even though Nokia Mobile was losing gripat the begining of 2021 in the EU countries, especially the largest Western Europe market, they are now the fifth-largest vendor there with a 4% market share.

The Finnish start-up also doubled down their efforts on Central and Eastern Europe, and their shipments increased 95% YoY, which helped them take 2% of the market share there.

While their current X and G series are proved to be decent affordable entry phones and T20 tablet, Nokia Mobile still lacks a proper higher-end midranger to compete against other aggressive brands like Xiaomi or brands under the BBK group. It is nice to see the Nokia brand being brought to its roots, but hopefully Nokia Mobile will have enough strength to increase the presence of Nokia worldwide.

Source Strategy Analytics

 

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