The Q1 2022 report from analyst firm Strategy Analytics reveals solid growth in Nokia Mobile Financials in Western Europe and North America markets. In North America, Nokia Mobile’s Year-on-Year growth was 87%, while in Western Europe it registered 31% Year-on-Year growth.
Nokia Mobile has however seen its overall smartphone shipment volume decline by 3% on a YoY basis compared to Q1 2021. This has however not impacted its financials which rose higher in Q1 2022.
The Asia Pacific region however hasn’t been going favorable for the the company as it is facing stiff competition in this big market cluster. Exiting Russia amid the Ukraine war has also impacted its handset sales in Q1 2022.
HMD (Nokia) smartphone volumes declined -3% YoY in Q1 2022, but financial maintained upwards trajectory from the previous quarters.
Regionally, HMD (Nokia) registered solid growth in North America (+87% YoY) and Western Europe (+31% YoY), but the company is lost share in Asia Pacific, struggling to convert its feature phone base to smartphone users in the region. The company has also left the Russian market, due to the conflict in Ukraine, which additionally contributed to the smaller volumes in the quarter.
Nokia C series contributed to almost half of the smartphone volumes in Q1 2022, followed by the Nokia G series and Nokia X series. All other series have completely phased out of the market this quarter.
According to the SA Lens (see the chart below), HMD (Nokia) scored 3.1 (out of 5) in Q1 2022, which evaluates the company as vendor providing good value with its focus on durability, longevity and regular Android updates, but with room to improve in other areas like product and tech leadership.
The report further reveals that Nokia C-series smartphones contributed to half of the Nokia smartphone volumes in Q1 2022. Strategy Analytics has also evaluated Nokia Mobile 3.1 on a scale of 5 in terms of its standing as a Phone vendor.
We recently reported about Nokia Mobile registering strong growth in smartphone shipments in the last quarter of 2021. In Q4 2021, Nokia Mobile grew smartphone shipments in 5 regions, registered highest ASP & tripled US smartphone shipments.