Nokia's net drops 6.6 percent

Like Motorola, Nokia's Q1 profit also declined, but by 6.6 percent, thanks to falling average handset selling prices and strong (but less profitable) sales in emerging markets. Analysts, however, were happy to see improvements in the company's margins signaling that the company may not have traded profits for marketshare. Net income decreased to $1.21 billion. The average selling price of handsets for Nokia decreased by 13.6 percent to $121 as more sales came from the emerging markets. Revenue still rose, however, because the handset maker shipped 21 percent more handsets year-on-year, or about 91.1 million. As noted above, Motorola's handset shipments fell 31 percent to a mere 45.4 million units during the quarter.

For more on Nokia's quarter:
- see this WSJ article (sub. req.)