INSTANT VIEW-Nokia sells fewer handsets than expected in Q2
HELSINKI, July 18 (Reuters) - Nokia sold fewer handsets than expected in the second quarter, showing it was still far from regaining market share it has lost to rivals Samsung and Apple.
The following are analysts' reactions to the results:
HANNU RAUHALA, POHJOLA MARKETS
"Their phone deliveries in the quarter were soft, not as bad as in Q1, but all in all rather soft."
"Nokia Siemens Networks was surprisingly strong. Looking at NSN's cash flow and results, the business seems to be a decent back-up plan for Nokia."
"In general this report did not change my view a lot - they have their problems in the devices business while NSN is making strong cash flow, so the situation remains basically the same (as) in the beginning of the year."
MIKAEL RAUTANEN, ANALYST, INDERES EQUITY RESEARCH
"Overall there were some negatives in the handset business, but the continued improvement in NSN is offsetting this weakness in handsets."
"Thanks to NSN, the non-IFRS operating profit was clearly above expectations. And the NSN guidance for the third quarter is also in line with expectations."
"The negative side was the shipments, both in Lumia and (basic) mobile phones."
"Until now, the profitability of mobile phones was able to finance the losses in the market. In this quarter it managed to hardly break even. They still need these margins in the mobile phone unit to finance the ramp up in smart devices."
(Reporting by Nordic bureaus. Editing by Jane Merriman)