Nokia's Q209, compared to Q208, showed a 25% revenue decline to €9.9bn, a 66% profit decline to €380m, a 15% decline in units to 103m, and a decline in ASP from €74 to €62.
The good news is that Q2 was a slight improvement on Q1, and that the company thinks the bottom of the mobile market has passed,
"Competition remains intense," said Nokia's CEO Olli-Pekka Kallasvuo. "But demand in the overall mobile device market appears to be bottoming out."
Industry analysts forecast a 20% drop in shipments this year after a 13% drop to 245m units in Q1, which was the sharpest drop in the mobile industry's history.
But Nokia forecasts that global handset shipments will shrink by only 10%, that the company will hang on to its 38.5% market share in 2009, and that it will maintain its 11.3% profit margin.
Olli-Pekka sees a sea-change in the mobile phone industry as phones become computers and with more people connecting to the Internet via a cell phone than a computer.
"The line between handsets and PC will not exist in the future," he says. "and our ambition is to become the leading provider for these integrated mobile devices."
But that's not the sum of his ambition. "As we have said before, one size doesn't fit all," he adds, "Nokia will continue to address all price points and all markets globally."