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HMD (Nokia) with Solid Growth in Western Europe and North America in Q1 2022

by Boris Metodiev | May 09, 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.

Wireless Smartphone Strategies (WSS) clients can find the answers of all questions, and much more, in the full report here.

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