Earnings Soar at Nokia on Third World Demand
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Strong demand for low-cost phones in Africa, the Middle East and Asia lifted the companyâs share of the global market to almost 40 percent.
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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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Nokia saw sales soar in China last year as the world's largest maker of mobile phones started tapping the nation's huge rural market, according to state media.
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Mobile phone maker Nokia raised its  third-quarter sales and earnings forecasts on Thursday on the  back of strong market demand, reversing a recent spate of grim  outlooks and sending its share price higher.
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Nokia raised its outlook for third-quarter sales and earnings, apparently benefiting from an unusual decision to cut its handset prices.
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Nokia, the world's biggest mobile phone manufacturer, has posted stronger-than-expected earnings with a 43-percent jump in net profits and 22-percent rise in sales, but saw its market share dip slightly.
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Robust demand for cheaper phones lifted third-quarter earnings and the better than expected results sent the companyâs shares sharply higher.
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Nokia Corp., the world's No. 1 mobile phone maker, on Thursday said that fourth-quarter net profit surged 44 percent to $2.6 billion and that it had reached its long-term goal of 40 percent market share in handset sales. The company's stock soared.Finland-based Nokia said that net sales in October through December grew 34 percent to 15.7 billion euros ($22.9 billion), and that it sold more than 133 million handsets _ up 27 percent from the same period in 2006.'Nokia's excellent fourth quarter contributed to a year of high growth and increased profitability for the company,' Chief Executive Olli-Pekka Kallasvuo said. Read more
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Nokia, the world's biggest cell phone  maker, reported lower third-quarter earnings on Thursday after  cutting prices to claw back market share, but said sales were  strong as it enters the key Christmas season.
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PARIS Global cellphone sales rose to record levels in the second quarter as Nokia clawed back some of its lost market share, according to figures released Thursday.
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Nokia , the world's largest  mobile phone maker, unveiled three new mobile handsets on  Monday intended to boost its offering of mid-range phones and  help lift its global market share.
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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.
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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. said Wednesday.
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HELSINKI  - Finland's Nokia raised its third-quarter sales and earnings outlook due to strong demand for mobile phones, reversing a recent spate of grim outlooks and sending its shares higher on Thursday.
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Shares in Nokia surged on Thursday after the world's largest handset maker reported a surge in profits and expanding market share.
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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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The mobile phone maker said  fourth-quarter net profit rose to $2.6 billion and that it had reached its goal of 40 percent market share in handset sales. The companyâs stock soared.