Nokia Says Handset Market to Slow, Share to Rise
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Nokia (NOK1V.HE), the world's largest mobile phone maker, expects slowing mobile phone growth in 2005 but plans to launch more phones next year and regain lost market share, the company said on Thursday.
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Nokia, the world's largest mobile-phone maker, has lowered its profitability targets in spite of rising sales, highlighting the growing difference in its performance with that of rival Ericsson.
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Finnish mobile phone giant Nokia posted better-than-expected third quarter results, possibly marking a turnaround after failing to pick up on the popularity of clamshell phones, and predicted overall growth in global handset sales this year.
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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., the world's largest mobile phone maker, plans to bring 40 new handsets to the market next year as it seeks to expand its already dominant market share amid increased competition from rivals Motorola Inc., Samsung Electronics Co. and Sony Ericsson.
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Market researcher IDC expects growth  in the global market for mobile phones to slow to single digits  from this year onwards after unit sales rose 11.6 percent last  quarter, it said in a statement on Friday.
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The world's top cell phone maker Nokia   expects to start selling phones for China's 3G  mobile technology TD-SCDMA in the first half of next year, when  the network is up and running, a company official said.
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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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Nokia Oyj&#39;s share of the global mobile-phone market rose for a second straight quarter as the company reduced prices and introduced new models.
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BusinessWeek Online - The Finnish cell phone heavyweight Nokia  said Nov. 28 that it's expecting lower profit margins during the coming years as it starts up a new joint venture with Germany's Siemens . But Nokia is also victim to global trends affecting other cell phone companies.
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Market share of the world's top mobile phone maker Nokia Oyj  is rising, industry analysts said, after its closest rival Motorola Inc  warned investors of a second-quarter loss and lower sales.
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But Nokia still ruled in Q3, says researcher
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Nokia said Thursday its third-quarter revenue and profits would be better than expected, citing an increase in mobile phone sales. The news pushed its shares up nearly 6.5 percent in trading.
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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 reported a 44 percent rise in net profit for the fourth quarter, on sales that increased 34 percent. The company estimates 1.14 billion phones were sold in 2007, 40 percent of them bearing the Nokia brand.The company made net profit for the quarter of &#8364;1.84 billion ($2.7 billion as of Dec. 31, last day of the period reported), up from &#8364;1.27 billion a year earlier.Sales for the quarter rose to &#8364;15.7 billion from &#8364;11.7 billion a year earlier. Growth was dampened by the weakening dollar: at constant currency rates, sales would have grown by 40 percent, the company said.Nokia is counting on its&#160;acquisition of digital mapping data provider Navteq, and its move into the Internet services business, to drive future growth, Chief Financial Officer Rick Simonson said in a conference call with analysts.Basic mobile phones sales now account for less than half the group&#39;s revenue, down from 60 percent a year earlier. Although sales volumes increased, the average selling price of such phones dipped from &#8364;89 to &#8364;83.Around the world, shipments in the quarter increased 26.5 percent, with growth topping 40 percent in Asia. Growth could have been faster were it not for shortages of certain components, Nokia said. Sales fell in North America, Nokia&#39;s smallest geographic market, where shipments dropped 13.6 percent to 5.1 million phones. Nokia blamed the drop on its progressive withdrawal from the market for phones based on CDMA technology, used mainly in North America, to focus on the GSM technology used worldwide.Nokia&#39;s multimedia division saw a 42 percent increase in sales, to &#8364;3.03 billion, and a doubling of operating profit, driven by the success of consumer smartphones such as the N73 and N95, which the company describes as &quot;multimedia computers.&quot; It shipped over 11 million Nseries devices and over 2 million of its Eseries enterprise devices during the quarter.New phones and multimedia devices that began shipping in volume during the quarter accounted for about 30 percent of profits and revenue, said CEO Olli-Pekka Kallasvuo.The company also saw sales more than double at Nokia Siemens Networks, its network equipment joint venture with German conglomerate Siemens.Looking ahead, the company expects mobile phone sales to dip slightly in the first quarter, picking up to grow 10 percent for the full year. It also expects its share of that market to grow, although average selling prices will likely continue to decline, it said.&quot;Much work remains in order to realize our ambitions,&quot; Kallasvuo said. &quot;We will not underestimate the competition.&quot;Nokia will have to address its problems in North America if it wants to increase its share of the mobile phone market further, said Gartner research vice president Carolina Milanesi.The company is working with U.S. operator&#160;Sprint Nextel to build a nationwide WiMax network, but Milanesi does not expect sales of WiMax devices to compensate for the company&#39;s falling CDMA market share during 2008.&quot;It&#39;s not going to happen overnight,&quot; Milanesi said.Simonson found a silver lining to the cloud over Nokia&#39;s performance in North America: with such a small share of the U.S. market, the company has little exposure to the country&#39;s economic troubles.
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European shares fell on Thursday, despite a boost for tech shares as Nokia upped its third quarter outlook as investors worried about global growth and headed into euro zone and US government bonds.
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Nokia Corp. hopes to distinguish its products and regain lost market share by leading the mobile-device market in delivering cutting-edge bells-and-whistles on its new handsets, company executives said Thursday duringhop a daylong meeting in New York with analysts.