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Nokia on Thursday reported its worst quarterly profit in more than a decade. Nevertheless, the cell-phone maker’s shares rallied in the wake of optimism expressed by CEO Olli-Pekka Kallasvuo. The Finnish company said its profit declined to 122 million euros (US$160.7 million), from 1.2 billion euros (US$1.6 billion) a year earlier. Sales fell 27 percent. Nokia’s Devices & Services unit saw net sales decline 33 percent year-on-year to 6.2 billion euros (US$8.2 billion). Still, the Nokia 5800 XpressMusic, one of its flagship devices, sold 2.6 million units in the quarter and more than three million since it launched in late November. But its services division saw a five percent decline over the same period last year. Nokia remains the largest mobile-device maker in the world with a market share of 37 percent in this year’s first quarter. However, that’s down from 39 percent in the year-ago period. Nokia expects industry sales to continue to decline this year, estimating a 10 percent overall slide from 2008. A More Predictable Future “In what has been an exceptionally tough environment, we continue to invest in a focused manner in consumer Internet services delivered across our broad portfolio of mobile devices. Combined, these solutions will drive our future growth,” Kallasvuo said. As a first-quarter example, Kallasvuo pointed to the performance of Nokia’s first mass-market touch product, the Nokia 5800 XpressMusic. Together with Comes With Music, he said it’s a great example of Nokia providing solutions that consumers value. “Regarding the health of the overall mobile-device market, the inventory already in the sales channels decreased substantially during Q1 due to extensive destocking by operators and distributors. This adversely impacted our sales volumes in the quarter,” Kallasvuo said. “However, it has also resulted in the demand picture becoming more predictable as we enter the second quarter.” Increasing Market Share Nokia expects industry…
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