Handset maker Nokia announced its Q2 2009 financial results reporting a net sales of EUR 9.9 billion, down 25% year on year and up 7% sequentially. Under constant currency comparison the drop in sales is 24 % on YoY and 7% on QoQ.

The company’s sales from Devices & Services unit stood at EUR 6.6 billion, down 28% year on year and up 7% sequentially. Devices & Services gross margin was up 34.0% from 33.8% in Q1 2009.

The company said that while the industry shipped 268 million units during the quarter which is at a drop of 12% on YoY comparison and 5% on QoQ, Nokia recorded 103.2 million unit shipments at 15 % yearly drop and 11% sequential rise.

The average selling price of a Nokia device was at EUR 62, down from EUR 65 in Q1 2009.

The company’s operating ash flow reached EUR 716 million at end of Q2 2009. Total cash and other liquid assets were at EUR 7.0 billion at the end of Q2 2009.

Sales from APAC region slid by 16.8 % but rose 7.4 % sequentially. The company however improved its performance in the Chinese market.

Nokia claimed a market share of 38% at end of Q2 as compared to 405 at end of Q1 2009.

The average number of employees during January-June 2009 was 123 274, of which the average number of employees at Nokia Siemens Networks was 60 686. At June 30, 2009, Nokia employed a total of 120 827 people (117 212 at June 30, 2008), of which 60 983 were employed by Nokia Siemens Networks (60 039 people at June 30, 2008).