News
Multimedia fuels Nokia surge
Tim Green Oct 19 2007, 12:02pm
Nokia increased its multimedia division sales by 23 per cent in 3Q 2007.
Sales leapt from 2.1 billion euros to 2.6 billion across in all regions, with growth strongest in Latin America and North America (although sales here are relatively small). The surge was driven mostly by high volumes of Nokia Nseries devices, especially the Nokia N70, Nokia N73 and Nokia N95. Multimedia third quarter operating profit grew 57 per cent to 575 million euros.
In general, 3Q was a superb quarter for the manufacturer with net profit at 1.56 billion euros ($2.2 billion), up 85 per cent from 845 million year on year.
Sales rose 28 per cent to 12.89 billion euros. Nokia's handset division now commands a 39 per cent global market share. And it maintained improved profit margins despite the fall in the average selling price of phones. Worldwide, Nokia's mobile phone shipments jumped 26 per cent to more than 111 million units in the quarter.
