| John Navas 2007-04-21, 4:33 am |
| <http://www.theregister.com/2007/04/...y2007-earnings/>
Profits were down at global mobile phone giant Nokia yesterday
although quarterly sales remained strong.
First quarter financial results for the Finnish giant show net
profits stood at €979m, down seven per cent on close to €1.05bn last
year.
This is despite a four per cent increase in sales compared to last
year with overall turnover reaching just below €9.9bn compared to
€9.5bn last year. Nokia said increasing sales of low-end models in
emerging markets deflated its unit average selling price (ASP) with
the Middle East & Africa, China and Asia-Pacific regions all
recording strong year-on-year increases of between 31 and 44 per
cent.
The average selling price of Nokia's handsets was €89 - the same as
the final quarter of 2006, but down a noticeable 14 per cent from
€103 one year ago. Nokia said the decline was slightly offset by
improving sales of its high-spec multimedia devices, but still beat
forecasts by €1.
In total, Nokia sold 253 million mobile devices during the three
months ending 31 March, an 18 per cent increase year-on-year. Nokia
is expecting a slight increase in the current quarter, and the
company expects the handset market to keep on growing by an estimated
10 percent throughout 2007.
Even so, Nokia executicves will be keeping a close eye on its market
share in North America, with handset volumes falling more than 40 per
cent to under five million units.
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