HMD (Nokia) handset volumes took a hit in Q2 2022, but handset wholesale ASP was at its all-time high and financial metrics remained solid.

One of the reasons for the high ASP was the larger portion of the smartphone segment out of the total handset volumes. Smartphones accounted for more than a third of the total HMD volumes in Q2 2022, the highest level ever since the inception of the company.

Another reason for the increased the ASP was the traction the company was getting into wealthier markets. With its aggressive push in the US prepaid smartphone market, the company more than tripled its shipment volumes in the country compared to last year. The lucrative US market is now HMD’s largest one with 10% of its total shipments, and the company has the aspiration of becoming one of the top prepaid vendors in US by the end of 2022.