"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.
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.
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
57 comments so far
numbers are out and they're goood! http://www.nokia.com/A4136001?newsid=1210364
1 year, 2 months ago by constantine
Market going to decrease in euro terms. Tough.
1 year, 2 months ago by jounikjuntunen
mother of god, NAM sales dropped by almost 50%! APAC is the new bread and butter it seems.
1 year, 2 months ago by constantine
Dropped?
1 year, 2 months 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.
1 year, 2 months 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.
1 year, 2 months 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
1 year, 2 months ago by constantine
Just grab the links for Q3 and change the 3 to a 2 or 1
1 year, 2 months 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
1 year, 2 months 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.
1 year, 2 months ago by constantine
Keep me posted please ... Can't make that call
1 year, 2 months ago by atmasphere
churned some numbers, S60 is loosing market share?
1 year, 2 months ago by constantine
start the damn call already, i'm tired of this 2 minute new age jazz loop, vomit.
1 year, 2 months ago by constantine
someone must be reading my jaiku, they just switched to classical.
1 year, 2 months ago by constantine
dammit! vanjoki is not going to be in the call.
1 year, 2 months ago by constantine
30 million 1200 + 1208, wow
1 year, 2 months ago by constantine
N95 + N95 8GB = 3 million units shipped! E65 + E51 best selling products in that segment.
1 year, 2 months ago by constantine
@jouni: convince the IR folks to post transcripts of calls, pretty pretty please :-)
1 year, 2 months 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.
1 year, 2 months ago by constantine
11 more markets will get the Nokia Music Store by the end of 1H08.
1 year, 2 months 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.
1 year, 2 months ago by constantine
opk now talking about NSN, must ... stay ... awake ... sorry @bulls
1 year, 2 months ago by constantine
hmmm rick's voice is higher than usual, i think he is using another mic.
1 year, 2 months ago by constantine
ASP up in China, EU and NAM!
1 year, 2 months ago by constantine
Rick sounds absolutely disgusted by how far the dollar has fallen and how it has screwed up their numbers.
1 year, 2 months ago by constantine
I'm joining industry analyst relations, not investor relations. Sure i can comment still.
1 year, 2 months 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.
1 year, 2 months ago by constantine
q&a started!
1 year, 2 months ago by constantine
lol techno-glitch
1 year, 2 months 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.
1 year, 2 months 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.
1 year, 2 months 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"
1 year, 2 months 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.
1 year, 2 months 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.
1 year, 2 months 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.
1 year, 2 months 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.
1 year, 2 months 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.
1 year, 2 months 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"
1 year, 2 months ago by constantine
dude, you need spinvox.
1 year, 2 months 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.
1 year, 2 months ago by constantine
Rick said bye bye, operator said bye bye. Call done.
1 year, 2 months ago by constantine
Thanks. Didn't hear the real one, but I'm sure this one was more interesting.
1 year, 2 months ago by jounikjuntunen
no problemo
1 year, 2 months ago by constantine
@krazykritter nothing has changed on that front ... that's really the same story as it has been for years.
1 year, 2 months ago by atmasphere
SA is doing fantastic for NOK, volumes up 63%
1 year, 2 months ago by constantine
I think this is the best call coverage I've ever seen. "can i haz more details?" Too great...
1 year, 2 months 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
1 year, 2 months 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. ;)
1 year, 2 months 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.
1 year, 2 months ago by constantine
@zach, corrected and credited you.
1 year, 2 months ago by constantine
Three cheers for @constantine ´s coverage. Now I´m not upset I missed it.
1 year, 2 months ago by bogart
I think I'm just going to link this thread on S-G, instead of the actual call. lol.
1 year, 2 months 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...
1 year, 2 months ago by zacharye
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.
1 year, 2 months 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
1 year, 2 months ago by khouryrt
Whats funny about the "terminal" comment? It's a common term technical term in the industry for a phone.
1 year, 2 months ago by jodyfanning
Tanks for this feedback. Jaiku is perfect for there calls
1 year, 2 months ago by arjw