Nokia’s Q3 Earnings — A Sigh Of Relief

Nokia has released its Q3 earnings (press release) showing net sales up 20% year on year but operating profits down 4%. “One analyst called it a “sigh of relief” quarter for the Finnish giant, as some had feared lower results.” The results show the benefit of Nokia’s focus on “multimedia devices”, as the manufacturer insists on calling them. The figures are split into different categories, and the Mobile Phones category saw an increase of 14% in sales (from 5.203 billion euros to 5.949 billion euros) and an increase of 45% in the Multimedia category, from 1.447 billion euros for Q3 2005 to 2.092 billion euros for the third quarter of this year. The multimedia category also saw a large increase in operating profit, from 245 million euros to 366 million euros, while the mobile phone category saw operating profit shrink by 11% from 880 million euros to 779 million euros.
Nokia had “Nokia device volumes of 88.5 million units, up 13% sequentially and up 33% year on year…Based on our preliminary market estimate, Nokia’s market share for the third quarter 2006 was 36%, compared with 33% n Q3 2005″. It increase year-on-year sales in every market except North America, where it held even.

Comments have been disabled for this post