Nokia released its Q1 earnings earlier today and had the following outlook for the year.

– Nokia device volumes of 115.5 million units, up 27% year on year and down 13% sequentially.
– Estimated industry device volumes of 295 million units, up 17% year on year and down 12% sequentially.
– Nokia estimated device market share of 39%, up from 36% in Q1 2007 and down from 40% in Q4 2007.
– Nokia device ASP of EUR 79, down from EUR 83 in Q4 2007. (Device ASP excludes net sales from Services & Software)

– Nokia expects industry mobile device volumes in the second quarter 2008 to be up slightly sequentially, similar to the market growth in the second quarter 2007, compared to the first quarter 2007.
– We expect Nokia’s mobile device market share in the second quarter 2008 to increase sequentially.
– Nokia continues to expect industry mobile device volumes in 2008 to grow approximately 10% from the approximately 1.14 billion units Nokia estimates for 2007.
– Nokia expects the mobile device market to decline in value in Euro terms in 2008, compared to 2007. The change from our previous estimate of value growth for this market primarily reflects the negative impact of the recently weakened US dollar, the general economic slowdown in the US, and possibly going forward some economic slowdown in Europe.
– Nokia continues to expect some decline in industry ASPs in 2008, primarily reflecting the increasing impact of the emerging markets and competitive factors in general.
– Nokia continues to target an increase in its market share in mobile devices in 2008.
– Nokia expects the mobile and fixed infrastructure and related services market to be flat in Euro terms in 2008, compared to 2007. The change from the previous estimate of “very slight growth” for this market primarily reflects the negative impact of the recently weakened US dollar.
– Nokia and Nokia Siemens Networks target for Nokia Siemens Networks market share to remain constant in 2008, compared to 2007.
– Nokia and Nokia Siemens Networks cost synergy target for Nokia Siemens Networks is to achieve substantially all of the EUR 2.0 billion of targeted annual cost synergies by the end of 2008, as previously announced.