HMD (Nokia) total global handset shipments dropped -10% YoY in Q3 2020. That was 8 out of the last 9 quarters registering a YoY decline in volume.

The main reason for it is the decline of the smartphone segment. While HMD (Nokia)’s feature phones have been relatively stable for the last couple of years, the smartphone volumes halved for the same period. HMD (Nokia) has failed to transition feature phone consumers to the much more lucrative smartphone market.

HMD (Nokia) has been overly reliant on cheap feature phones, where margins are extremely low. The company has been bleeding cash for far too long, which may prove to be unsustainable very soon.

WSS clients can find the answers of all questions, and much more, in the full report here.