Nokia Q1 results are in, Microsoft finally detailed transaction

Nokia announced today their Q1 financial results and marked increase in net sales and units shipped year for year. Operating profit, however, is hit, but Microsoft/Nokia agreement was signed by the official of the transaction.

First, let s look at Nokia's financial results. Nokia's devices and Services Department reported 7 087 million in net sales (6% increase year over year), but operating profit fell 14% year over year, to 694 million (is 804 million in Q1 of 2010).

Nokia shipped 108.5 million units in total, slightly uptick than a year before the quarter. Feature phones accounted for 84.3 million, while the Smartphone takes 24.2 million. This Smartphone numbers in almost one third more than what they were in Q1 of 2010.

Gross profit for the first quarter was 29%, down from 32.4% the year before the quarter. The average selling price joined 65 comparison may continue the year's first quarter, but down compared with Q4 of 2010 (69).

Forecasts put net sales between 6 100-6,600 million for Q2, which Stephen Elop, Nokia's new appoint the Executive Director, says it will be more challenging.

NAVTEQ's sales and profits improved in Q1 and are bound to improve still further with Microsoft/Nokia deal on the spot.

Speaking of the transaction, here s what it includes briefly:

Nokia delivers mapping, navigation and location-based services of the Windows phone 7 eco system. It doesn t say, if not the Nokia phones, you will receive a free navigation or not.Nokia will provide images and hardware design expertise, carrier billing interfaces and receive payments for their intellectual properties.Nokia will be the payment of fees to Microsoft for each device for Windows phone 7, they make, but they ll receive payments in billions of Microsoft Nokia branded A app store will be built on the infrastructure of Windows Marketplace.

Microsoft and Nokia are intended to ensure the volume device shipments in 2012.

You can find more information here finance (PDF) or read more about the Microsoft/Nokia hereAgreement.

[Via]