Nokia Siemens Networks’ (NSN) CEO Rajeev Suri might have stated last year that the company will focus on market share perhaps in an indication that NSN may play the price card in the new fiscal 2010. But Q1 2010 results of the company suggest that the company has a long way before achieving its target.

In fact the company’s Q1 financial results are on a downward trend when compared to Q4 2009. Revenues for NSN were at euro 2.72 billion at a drop of 25% when compared to euro 3.6 billion in Q4 2009. Even on a yearly comparison the figures are at a 9% drop.

The company’s reported operating loss during the quarter was at 226 million as compared to operating loss of 361 million last year during the corresponding quarter. NSN had managed to record an operating profit of euro 17 million in Q4 2009.

EPS for the quarter under consideration is at euro 0.09 as compared to euro 0.26 in Q 42009 and EPS of euro 0.03 in Q1 2009.

Europe remains the biggest market for the company with the region reporting revenues of over euro one billion. Revenues from Asia-Pacific region excluding China were at euro 632 million at a drop of 9% on a yearly comparison but the decline of 23% was more severe when compared on a sequential basis.

Even in China the company reported a revenue decline by 3% and 35% on a yearly and quarterly comparison respectively.

“Nokia Siemens Networks’ profitability benefited from a positive sales mix in Q1. I am also pleased to see encouraging results from the company’s focus on helping operators meet the challenge of the rapid growth in data and signaling traffic from smartphones,” said Olli-Pekka Kallasvuo, Nokia CEO.

For Q2 the company is expecting increased revenues in the range of euro 3.1 billion to euro 3.4 billion.