Nokia Profit Soars 44 Percent
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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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OT&quot;&gt; Motorola, the world&#39;s second-largest maker of cellphones, said yesterday that its profit more than quadrupled in the third quarter and revenue jumped 26 percent compared with the quarter
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Sony Ericsson Mobile Communications exceeded market expectations on Thursday when it reported that net profit rose 45 percent in the third quarter, but Nokia&#39;s third-quarter report indicated the market leader was still struggling to get back on track.
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Motorola Inc. MOT.N, the world's No.  2 maker of cell phones, on Tuesday said its quarterly profit  more than tripled, as sales rose 26 percent, driven in part by  a host of new handset models and cost controls.
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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 top cellphone maker, reported a 57 percent rise in earnings per share in the October-to-December quarter, with booming demand in emerging markets boosting its global market share to 40 percent.
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LG Electronics Inc., South Korea&#39;s second-largest electronics maker, reported third-quarter profit rose 36 percent, better than analysts expected, after selling a record number of mobile phones.
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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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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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Verizon Communications Inc. earned &#36;3.04 billion in the fourth quarter, posting a 6 percent revenue gain as another powerful showing by the cellular business more than compensated for the continuing decline of traditional local phone service.
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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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LONDON, October 14  - Sony Ericsson posted robust profit growth for 3Q04, with the company&#39;s quarterly pre-tax profits more than tripling from the one year ago levels.
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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 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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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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Qualcomm Inc  posted a  quarterly profit that rose 24 percent on Wednesday, handily  beating Wall Street estimates on strong demand for high-end  mobile phones using its chips and technology licenses.
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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.