Nokia has just published its first slick results in the era of its Microsoft friendship and things aren't looking too bright. Smartphone market share, which had been at 41 percent this time last year and 31 percent in January, has now dipped to 26 percent, while overhead profits have taken a 17 percent tumble relative to last year. The company managed to ship one percent more phones in Q1 2011 than in Q1 2010, but its 108.5 million units was an 18 percent drop from last quarter's totals. CEO Stephen Elop describes the first quarter as solid, but warns that the second will be "more challenging." The impact of Japan's disaster earlier in the year will be felt more strongly in Q2, we're warned, with respect to constituent supply and logistics, while new product won't figure too strongly as Nokia intends to "start shipping the majority of our new manufactures in the second half of the year." Elop is, however, encouraged by the "roadmap of mobile phones and Symbian smartphones" that Nokia has in store for 2011, which sounds good on the surface, but we'd be more comforted if he'd have inserted the words "Windows Phone" or "MeeGo" in that sentence too. Hit the links below to see the full business details.

Nokia's Q1 2011: smartphone share down to 26 percent, 'more challenging' times ahead first appeared on Engadget on Thu, 21 Apr 2011 06:15:00 EDT. Please see our terms for use of feeds.

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