Things looking up for Nokia

Nokia has revealed net sales of €10 billion for the second quarter of 2010, up 1% year-on-year – although down 4% at constant currency.

The company sold 111.1 million mobile devices in Q2, up 8% year-on-year, with 24 million of those being smartphones (up 42% in the same period). Nokia also posted Services net sales of €158 million in Q2, compared to €140 million in Q2 2009 – a 12.9% increase year-on-year.

CEO Olli-Pekka Kallasvuo – who’s been tipped for replacement in recent days – said the results offer encouragement for the company.

"Despite facing continuing competitive challenges, we ended the second quarter with several reasons to be optimistic about our future," he said.

Head over to ME for a more detailed report.