"Year on year growth in terms of shipments was up only 7.5% in
Europe with 25.7 million units, but an astounding 43.9% increase in
the Asian Pacific region with 34.1 million units! North American
sales plummeted 45.8% to 2.6 million devices and the Chinese market
is almost as large as Europe now with 21 million units shipped, an
increase of 33.8%." from my blog post.
45 minutes until the conference call, can't wait for an analyst
to ask Anssi about Ovi. hearing Vanjoki talk about Ovi is like
putting on a death metal CD while you're barreling down a highway
doing triple digits, guy pumps me up.
@jouni: you're doing
analyst relations, tell the guys to fix the website, i can't get
PDF reports (in either Enlgish or Finnish) for Q1 or Q2 07:
http://www.nokia.com/A4984289
"Leevi and Gadget" are devices expected to ship in 2H08 along
with a lot more, wtf, since when does OPK cover code names of
unannounced product lol. this really IS a new Nokia.
paraphrasing, goldman sachs: you keep on saying 10% increase in
volume, are you sure you can do that? food prices are increasing in
the emerging markets. opk: we are sticking to our guns. phones are
really really important. food prices will not affect their desire
to buy our phones.
piper-jeffy: tell me more about ASP, we all know the dollar
sucks, but what trends do you see? CFO Rick: we expect ASP to drop,
which we don't mind, we have the best margins in that category of
devices. we know the dollar sucks, hard, but that doesn't impact us
too much since we sell to the whole world. we rock on hard on (to
quote stavros) in emerging markets. CEO OPK: China ASP high, EU ASP
up, and two other regions up as well. Saying general ASP is
dropping doesn't explain specific nations.
merril-lych: iPhone iPhone iPhone, it eats your converged
devices share, what do you have to say about that? CEO OPK: we will
compete. "great products create great demand" "we have something i
have seen, but you have not seen" "services + hardware are a
cornerstone of our strategy"
leemon brothers (sp?): you sound excited about your future
portfolio, why are they launching in Q3 and not now? CEO OPK: we
have to cycle products in and out. Q2 = solid portfolio. CFO RS: we
can't introduce high end stuff every quarter, we need to feed it in
bits and pieces to give us more solid quarters like Q407.
JP Morgan: NSN question: These numbers suck. Ericsson is doing
better. When are you going to get better. CEO OPK: I would not use
the word "disappointing" (when talking about NSN Q1 numbers) i
would use the word "encouraging." CFO RS: Data growth is there, it
is real, investment in infrastructure is happening. Everyone is
going to LTE, woo woo! Q1 always sucks for peeps in
infrastructure.
JP Morgan (first guy to ask a second question aka "follow up"):
How confident are you of future network upgrades due to the
increase of data. CEO OPK: Capacity needs to grow A LOT because
data is HEAVY stuff.
UBS: MENA, you lost significant market share, what makes you
think you'll get it back in Q2? CEO OPK: that part of the world is
really volatile. the market data is not reliable and not
sufficient. i would not be throwing conclusions out here. We are
still the leader in that area. CFO RS: Our cost of production is
always going down, we built a supplier network that is zee best in
zee world! Yes price of raw materials is going up, but we have
plenty other ways to get better prices.
Citi: Potential for economic slowdown in the EU, can i haz more
details? CFO RS: If there wasn't a decline in the dollar you would
not be asking me this question. America has slowed down and that
might happen in other markets, we can't predict these things
really. Our volume is growing. CEO OPK: we're not trying to tell
you the EU is slowing down.
Follow up question: You said you're going to get more
marketshare in Q2, does that include the EU? CEO OPK: Yes, of
course, dude EU rocks.
Bank of America: You said you're not going to launch a lot in
Q2, how do you expect to gain market share? And dude, talk about
America, i work for bank of AMERICA! CEO OPK: I'm confident we're
going to do it, I just am. The USA is different, very different. We
have taken down our old business model for CDMA and we're ramping
up our new CDMA business model. We expect to do better in 2H. We
have a plant in San Diego that we're pouring money into to do
R&D.
RBC Capital Markets: So much investor language I have no idea
what this guy asked. CFO RS: half of our transactions happen dollar
to dollar, so if the dollar gets hurt, that does impact our profit.
"Crazy Currency Effect"
Last question: no clue where this guy works, lol he just called
a phone a terminal, asking if the high end is slowing down and
something about the supply chain. CEO OPK: dude, that was like 3
questions! i'm going to repeat what i told the other guys,
replacement rates have not changed in the EU or anywhere else. our
supply chain, we manage it the same way.
Of course s60 is losing market share. Nokia has almost no
presence in north america, not just the usa. Instead wm, bb and
iphone own the smartphone market if you consider a smartphone but
still a significant player nevertheless.
I can't speak about SA but I'd guess its a similar story. You
can't deny nokia all but ignores and certainly neglects these
markets while other platforms do not.
Anyone else find it humorous that you cannot actually call in to
this? Was hoping to listen to it in the car. @atmasphere I am not surprised
Nokia drops in the US. The carriers don´t bundle any decent Nokia
phones. Everyone I work with has either a blackberry or some
Windows Mobile device. Then again, lawyers aren´t exactly know for
their tech-savvyness
@constantine: Can't
find your email addy - Your numbers post lists €12.7 billion as
Nokia's profits in Q1. Should be net sales - that would be pretty
intense though. ;)
they stream it live and archive it so you can listen to it
later. the number is meant for investors since they're the ones who
wake up and tell their boss to buy or sell several hundred thousand
shares of Nokia stock. i would think they get priority over press
and over regular people. no offense.
@atmasphere true yet
during those years wm has gained considerably. The affect snowballs
and spreads to other markets. The wm presence at mwc was noticeably
stronger than s60. In the last couple years I've noticed more wm
devices among uk carriers.
Great coverage, @constantine. For future
reference, it's Leaman Brothers. ;)
I'm sure the leaner NAM product offering is lowering device
sales in the region. But as OPK says, we're ramping up. 2H2008 will
hopefully be a better story.
@zacharye true, the "can
i haz more details" is the one sentence that made me go lmao.
Though for people who will come to this thread without any previous
experience of Jaiku, we should point out that it the use of the
"haz" as well as the "teh" sometimes is all due to someone working
in Spinvox, and reported by @whatleydude :p
61 comments so far
numbers are out and they're goood! http://www.nokia.com/A4136001?newsid=121...
2 months, 2 weeks ago by constantine.
Market going to decrease in euro terms. Tough.
2 months, 2 weeks ago by jounikjuntunen.
mother of god, NAM sales dropped by almost 50%! APAC is the new bread and butter it seems.
2 months, 2 weeks ago by constantine.
Dropped?
2 months, 2 weeks ago by atmasphere.
"Year on year growth in terms of shipments was up only 7.5% in Europe with 25.7 million units, but an astounding 43.9% increase in the Asian Pacific region with 34.1 million units! North American sales plummeted 45.8% to 2.6 million devices and the Chinese market is almost as large as Europe now with 21 million units shipped, an increase of 33.8%." from my blog post.
2 months, 2 weeks ago by constantine.
45 minutes until the conference call, can't wait for an analyst to ask Anssi about Ovi. hearing Vanjoki talk about Ovi is like putting on a death metal CD while you're barreling down a highway doing triple digits, guy pumps me up.
2 months, 2 weeks ago by constantine.
@jouni: you're doing analyst relations, tell the guys to fix the website, i can't get PDF reports (in either Enlgish or Finnish) for Q1 or Q2 07: http://www.nokia.com/A4984289
2 months, 2 weeks ago by constantine.
Just grab the links for Q3 and change the 3 to a 2 or 1
2 months, 2 weeks ago by R200.
Wtf happened in the US ... Just read that report via mobile and there's no detail except to say share dropped substantially
2 months, 2 weeks ago by atmasphere.
@R200: kiitos! @atmasphere: i'm sure someone is going to ask the nokia execs about that one, i'll let you in if any new details arise.
2 months, 2 weeks ago by constantine.
Keep me posted please ... Can't make that call
2 months, 2 weeks ago by atmasphere.
churned some numbers, S60 is loosing market share?
2 months, 2 weeks ago by constantine.
start the damn call already, i'm tired of this 2 minute new age jazz loop, vomit.
2 months, 2 weeks ago by constantine.
someone must be reading my jaiku, they just switched to classical.
2 months, 2 weeks ago by constantine.
dammit! vanjoki is not going to be in the call.
2 months, 2 weeks ago by constantine.
30 million 1200 + 1208, wow
2 months, 2 weeks ago by constantine.
N95 + N95 8GB = 3 million units shipped! E65 + E51 best selling products in that segment.
2 months, 2 weeks ago by constantine.
@jouni: convince the IR folks to post transcripts of calls, pretty pretty please :-)
2 months, 2 weeks ago by constantine.
"Leevi and Gadget" are devices expected to ship in 2H08 along with a lot more, wtf, since when does OPK cover code names of unannounced product lol. this really IS a new Nokia.
2 months, 2 weeks ago by constantine.
11 more markets will get the Nokia Music Store by the end of 1H08.
2 months, 2 weeks ago by constantine.
he called the new N95 8GB the N95 pause 8 pause G pause B. someone tell him GB stands for gigabyte please.
2 months, 2 weeks ago by constantine.
opk now talking about NSN, must ... stay ... awake ... sorry @bulls
2 months, 2 weeks ago by constantine.
hmmm rick's voice is higher than usual, i think he is using another mic.
2 months, 2 weeks ago by constantine.
ASP up in China, EU and NAM!
2 months, 2 weeks ago by constantine.
Rick sounds absolutely disgusted by how far the dollar has fallen and how it has screwed up their numbers.
2 months, 2 weeks ago by constantine.
I'm joining industry analyst relations, not investor relations. Sure i can comment still.
2 months, 2 weeks ago by jounikjuntunen.
"leveraging scale to bring new services" ummm, some of the services i use were created by a few guys sharing an apartment in the valley.
2 months, 2 weeks ago by constantine.
q&a started!
2 months, 2 weeks ago by constantine.
lol techno-glitch
2 months, 2 weeks ago by constantine.
paraphrasing, goldman sachs: you keep on saying 10% increase in volume, are you sure you can do that? food prices are increasing in the emerging markets. opk: we are sticking to our guns. phones are really really important. food prices will not affect their desire to buy our phones.
2 months, 2 weeks ago by constantine.
piper-jeffy: tell me more about ASP, we all know the dollar sucks, but what trends do you see? CFO Rick: we expect ASP to drop, which we don't mind, we have the best margins in that category of devices. we know the dollar sucks, hard, but that doesn't impact us too much since we sell to the whole world. we rock on hard on (to quote stavros) in emerging markets. CEO OPK: China ASP high, EU ASP up, and two other regions up as well. Saying general ASP is dropping doesn't explain specific nations.
2 months, 2 weeks ago by constantine.
merril-lych: iPhone iPhone iPhone, it eats your converged devices share, what do you have to say about that? CEO OPK: we will compete. "great products create great demand" "we have something i have seen, but you have not seen" "services + hardware are a cornerstone of our strategy"
2 months, 2 weeks ago by constantine.
leemon brothers (sp?): you sound excited about your future portfolio, why are they launching in Q3 and not now? CEO OPK: we have to cycle products in and out. Q2 = solid portfolio. CFO RS: we can't introduce high end stuff every quarter, we need to feed it in bits and pieces to give us more solid quarters like Q407.
2 months, 2 weeks ago by constantine.
JP Morgan: NSN question: These numbers suck. Ericsson is doing better. When are you going to get better. CEO OPK: I would not use the word "disappointing" (when talking about NSN Q1 numbers) i would use the word "encouraging." CFO RS: Data growth is there, it is real, investment in infrastructure is happening. Everyone is going to LTE, woo woo! Q1 always sucks for peeps in infrastructure.
JP Morgan (first guy to ask a second question aka "follow up"): How confident are you of future network upgrades due to the increase of data. CEO OPK: Capacity needs to grow A LOT because data is HEAVY stuff.
2 months, 2 weeks ago by constantine.
UBS: MENA, you lost significant market share, what makes you think you'll get it back in Q2? CEO OPK: that part of the world is really volatile. the market data is not reliable and not sufficient. i would not be throwing conclusions out here. We are still the leader in that area. CFO RS: Our cost of production is always going down, we built a supplier network that is zee best in zee world! Yes price of raw materials is going up, but we have plenty other ways to get better prices.
2 months, 2 weeks ago by constantine.
Citi: Potential for economic slowdown in the EU, can i haz more details? CFO RS: If there wasn't a decline in the dollar you would not be asking me this question. America has slowed down and that might happen in other markets, we can't predict these things really. Our volume is growing. CEO OPK: we're not trying to tell you the EU is slowing down.
Follow up question: You said you're going to get more marketshare in Q2, does that include the EU? CEO OPK: Yes, of course, dude EU rocks.
2 months, 2 weeks ago by constantine.
Bank of America: You said you're not going to launch a lot in Q2, how do you expect to gain market share? And dude, talk about America, i work for bank of AMERICA! CEO OPK: I'm confident we're going to do it, I just am. The USA is different, very different. We have taken down our old business model for CDMA and we're ramping up our new CDMA business model. We expect to do better in 2H. We have a plant in San Diego that we're pouring money into to do R&D.
2 months, 2 weeks ago by constantine.
RBC Capital Markets: So much investor language I have no idea what this guy asked. CFO RS: half of our transactions happen dollar to dollar, so if the dollar gets hurt, that does impact our profit. "Crazy Currency Effect"
2 months, 2 weeks ago by constantine.
dude, you need spinvox.
2 months, 2 weeks ago by overpills.
Last question: no clue where this guy works, lol he just called a phone a terminal, asking if the high end is slowing down and something about the supply chain. CEO OPK: dude, that was like 3 questions! i'm going to repeat what i told the other guys, replacement rates have not changed in the EU or anywhere else. our supply chain, we manage it the same way.
2 months, 2 weeks ago by constantine.
Rick said bye bye, operator said bye bye. Call done.
2 months, 2 weeks ago by constantine.
Of course s60 is losing market share. Nokia has almost no presence in north america, not just the usa. Instead wm, bb and iphone own the smartphone market if you consider a smartphone but still a significant player nevertheless.
2 months, 2 weeks ago by krazykritter.
Thanks. Didn't hear the real one, but I'm sure this one was more interesting.
2 months, 2 weeks ago by jounikjuntunen.
no problemo
2 months, 2 weeks ago by constantine.
@krazykritter nothing has changed on that front ... that's really the same story as it has been for years.
2 months, 2 weeks ago by atmasphere.
I can't speak about SA but I'd guess its a similar story. You can't deny nokia all but ignores and certainly neglects these markets while other platforms do not.
2 months, 2 weeks ago by krazykritter.
SA is doing fantastic for NOK, volumes up 63%
2 months, 2 weeks ago by constantine.
I think this is the best call coverage I've ever seen. "can i haz more details?" Too great...
2 months, 2 weeks ago by zacharye.
Anyone else find it humorous that you cannot actually call in to this? Was hoping to listen to it in the car. @atmasphere I am not surprised Nokia drops in the US. The carriers don´t bundle any decent Nokia phones. Everyone I work with has either a blackberry or some Windows Mobile device. Then again, lawyers aren´t exactly know for their tech-savvyness
2 months, 2 weeks ago by bogart.
@constantine: Can't find your email addy - Your numbers post lists €12.7 billion as Nokia's profits in Q1. Should be net sales - that would be pretty intense though. ;)
2 months, 2 weeks ago by zacharye.
they stream it live and archive it so you can listen to it later. the number is meant for investors since they're the ones who wake up and tell their boss to buy or sell several hundred thousand shares of Nokia stock. i would think they get priority over press and over regular people. no offense.
2 months, 2 weeks ago by constantine.
@zach, corrected and credited you.
2 months, 2 weeks ago by constantine.
Three cheers for @constantine ´s coverage. Now I´m not upset I missed it.
2 months, 2 weeks ago by bogart.
I think I'm just going to link this thread on S-G, instead of the actual call. lol.
2 months, 2 weeks ago by rcadden.
lol No need to credit - just wrote it up a few minutes ago so it was easy to spot in Greader.
@rcadden: I am - This is infinitely more interesting...
2 months, 2 weeks ago by zacharye.
@atmasphere true yet during those years wm has gained considerably. The affect snowballs and spreads to other markets. The wm presence at mwc was noticeably stronger than s60. In the last couple years I've noticed more wm devices among uk carriers.
2 months, 2 weeks ago by krazykritter.
Add the iphone to that mix with all its hype. A little here, a little there and eats at that market share.
2 months, 2 weeks ago by krazykritter.
Great coverage, @constantine. For future reference, it's Leaman Brothers. ;)
I'm sure the leaner NAM product offering is lowering device sales in the region. But as OPK says, we're ramping up. 2H2008 will hopefully be a better story.
2 months, 2 weeks ago by phoneboy.
@zacharye true, the "can i haz more details" is the one sentence that made me go lmao. Though for people who will come to this thread without any previous experience of Jaiku, we should point out that it the use of the "haz" as well as the "teh" sometimes is all due to someone working in Spinvox, and reported by @whatleydude :p
2 months, 2 weeks ago by khouryrt.
Whats funny about the "terminal" comment? It's a common term technical term in the industry for a phone.
2 months, 2 weeks ago by jodyfanning.
Tanks for this feedback. Jaiku is perfect for there calls
2 months, 2 weeks ago by arjw.