Nokia Net Up 19%, Topping Estimates
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The maker of mobile phones said a push into emerging markets drove handset sales to a record.
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Nokia&#39;s latest smartphone, the 7710, takes a widescreen approach to helping users be productive on the move. The device was launched at the mobile phone maker&#39;s Mobility Conference in Monaco in Tuesday.
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Global handset sales rose to record levels in the second quarter, putting the industry on track to ship 650 million cell phones in 2004 as market leader Nokia halted its decline, a survey said on Thursday.
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ESPOO, Finland  - Nokia , the world's  largest cellphone maker, sees content for the wireless Internet  as key to snapping up more mobile phone users, including in  emerging markets, the head of its key unit said on Tuesday.
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Plus: Alltel profit, revenue rise...SanDisk earnings top estimates...SAP revenues solid, outlook moderate...Phone sales boost Nokia profits past forecasts.
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Nokia&#39;s net profit jumped in the third quarter as the company made up for the falling average selling price of its phones by shipping more of them, the company said Thursday.For the three months ending Sept. 30, net profit increased 85 percent over the third quarter of 2006, to &#8364;1.6 billion ($2.3 billion). Net sales rose 28 percent to &#8364;12.9 billion. Earnings per share rose 90 percent to &#8364;0.40.The company shipped 112 million units, 26 percent more than in the same period a year before. Nokia estimates it holds a 39 percent share of the mobile market.The ASP (average selling price) of mobile phones, however, has fallen from &#8364;90 to &#8364;82, Nokia said. The company said it expects the ASP to continue to decline but volume demand to increase through the end of this year and next.The most dramatic change came from Nokia&#39;s Enterprise Solutions business unit, which includes security appliances and software as well its E Series phones, which are aimed at business users. Operating profit for the unit was &#8364;88 million compared to a &#8364;65 million loss in the third quarter of 2006. Nokia attributed the rise to strong sales of its E65 model.Nokia Siemens Networks reported a 120 percent operating profit decline, which Nokia said was due to restructuring costs and other one-time items. The division, launched in April, is a combination of Nokia Networks and Siemens&#39; carrier-related operations for fixed and mobile networks. Nokia said it has identified &#8364;500 million in savings in combining the two entities that will be realized at the end of 2008.However, sales for Nokia Siemens Networks increased 7 percent over the second quarter of this year, which was the first quarter Nokia reported results for the division.
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Nokia Corp. increased its global market share of mobile phone handsets for a second successive quarter, reaching 30.9 percent with sales of 51.7 million units, market researcher Gartner Inc.
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Nokia third quarter profits surged outstripping analyst expectations, boosting the company's share of the global phone market to almost 40 per cent.
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Estonian telecommunications company Elisa, a subsidiary of the Finland's Elisa OY, rang up a 75 percent rise in profit for mobile telephone operations in 2004 to 202 million kroons (12.9 million euros).
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Shares of Nokia (NOK1V.HE) are likely  to extend gains as the world&#39;s leading cell phone maker expands  its share of the growing global market, financial newspaper  Barron&#39;s reported in its September 17 edition.
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Nokia made less money per mobile phone in the third quarter, but profits increased because it sold a lot more phones, the company says.
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The Finnish group Nokia was the world's leading provider of mobile telephones in the third quarter, capturing 35.1 percent of the market after 32.5 percent in the same period last year, a study by the Gartner institute has revealed.
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Nokia&#39;s share of the mobile phone market edged back up above 30 percent in the third quarter, as global mobile phone sales jumped to 164.
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Nokia, the world's largest mobile phone maker, said its results for third quarter would be better than earlier forecast due to higher-than-expected handset sales.
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Nokia announced Thursday an 85 percent rise in third quarter net profit to 1.56 billion euros (2.22 billion dollars) as it solidified its position as the leading mobile phone maker with 39 percent of the market.
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Nokia, the world&#39;s largest maker of mobile phones, continued to regain lost market share in the third quarter with its global share of handset sales again rising above 30 per cent
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Global handset sales rose to record  levels in the second quarter, putting the industry on track to  ship 650 million cell phones in 2004 as market leader Nokia  halted its decline, a survey said on Thursday.