Nokia: 3Q Profits Will Beat Predictions
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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.
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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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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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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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Robust demand for cheaper phones  boosted third-quarter earnings at Nokia Oyj, the world's  biggest maker of cell phones, with the better than expected  profits sending its shares higher.
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Nokia (NOK1V.HE), the world&#39;s largest  mobile phone maker, unveiled three new mobile handsets on  Monday intended to boost its offering of mid-range phones and  lift its global market share further from 36 percent.
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Robust demand for cheaper phones  boosted third-quarter earnings at Nokia Oyj, the world's  biggest maker of mobile phones, with the better than expected  result sending its shares sharply higher.
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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, 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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Mobile phone maker Nokia reports a smaller-than-expected drop in earnings following strong demand over Christmas.
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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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The world's top handset maker Nokia  will reveal strong fourth-quarter earnings fueled by bumper  Christmas demand, but sales will have been curbed by the rise  of the euro versus the dollar, analysts said.
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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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Plus: Phone sales boost Nokia profits past forecasts...eBay posts large quarterly loss on Skype write-down...IBM services buoy earnings...Yahoo net profit falls...Samsung posts strong quarter.
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U.S. stocks were little changed on Thursday after cell phone maker Nokia Corp.  raised its earnings forecast and weekly jobless claims fell more than Wall Street's forecast.
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Nokia , the world's biggest  mobile phone maker, said on Tuesday the ongoing patent battle  with Qualcomm Inc.  may work against the uptake of  "third-generation" mobile technology.
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Nokia, the world's leading mobile phone maker, announced soaring fourth quarter and full-year 2007 earnings Thursday boosted by strong handset sales.