Nokia’s Quarterly Profit Up 85%

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Nokia has reported the results of a strong financial quarter. Its total number of devices shipped and profits were up substantially during the July-September period.

The company says its share of the world phone market increased to 39% (up from 38%), with much of the growth being in the sub-€30 range. Overall, Nokia shipped 111.7 million units, up 11% over the previous quarter and up 26% year over year.

This led to revenue of €12.9 billion (up 28%) and a profit of €1.56 billion, up 85% from its €845 million profit in the same quarter of last year.

By Region

Nokia’s strong sales of low-cost units lead to double-digit increases in its device shipments in much of the world:

  • Middle East & Africa: 45.1%
  • Asia-Pacific: 41.1%
  • China: 37%
  • Europe: 16.9%

However, the company is still not making significant inroads in the Americas, where its shipments actually declined last quarter:

  • North America: -1.7%
  • Latin America: -3.0%

Looking Ahead

Nokia says it expects to ship more devices this quarter than it did during the previous one, but it made no prediction of an exact figure.

Kallasvuo is aware that his company faces some touch competition. "I am really paying a lot of attention to what Apple and RIM are doing," he said. "We will invest more money where we feel we not only can match, but where we can beat, that competition."

Apple’s iPhone will debut in Europe next month. This smartphone has has been very successful in the United States, and many are expecting similar success in other parts of the world.

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