Nokia's profits surge
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Despite falling prices, Nokia squeezes out profits on sales of 106 million handsets in the fourth quarter of 2006.
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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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Flogging cheap mobiles is easy Nokia's swallowed an estimated 39 per cent of the global mobile phone market in its third quarter, sending profits rocketing 85 per cent.â¦
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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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The South Korean consumer electronics and appliances company swung to a profit on strong sales of appliances and premium mobile phones.
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After a year of slumping sales, world-leading mobile phone maker Nokia reported better-than-expected fourth quarter and full-year 2004 results, prompting hopes that the company is on the road to recovery.
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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 raised its outlook for third-quarter sales and earnings, apparently benefiting from an unusual decision to cut its handset prices.
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The Finnish mobile phone giant says its next results will now be better than expected, thanks to a boost in handset sales.
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In the three months to September, Nokia gained market share for a second consecutive quarter, helped by price cuts and new handsets.
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Mobile phone sales were up 26 percent in the third quarter, with Nokia (NYSE: NOK) solidifying its position as the leading manufacturer, while Samsung leapfrogged past Motorola (NYSE: MOT) for second in the global rankings.
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The promise of a buyback, not the latest earnings report, is holding up Nokia's value.
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Nokia Corp. announced deals worth more than 2 billion euros ($2.5 billion) with Chinese customers on Tuesday, sending the company's shares up 3 percent.
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Nokia raised its earnings and revenue forecasts for the current quarter because of growing mobile phone sales, the first glimmer of good news in months for the besieged world leader in mobile phones.
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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 said on Thursday that its third-quarter profit was higher than many analysts had forecast, but still a fifth lower than a year ago.
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MOBILE phone maker SonyEricsson reported a tripling in quarterly pre-tax profits yesterday as it benefited from an upsurge in demand for its camera phones.