Nokia Q3 revenues up 28pc to €12.8bn

18 Oct 2007

The world’s largest mobile phone maker Nokia today reported third quarter revenues of €12.2bn and a net profit of €1.5bn, driven by sales of some 111.7 million mobile devices.

Nokia’s third quarter operating profit grew 69pc to €1.9bn.

The company shipped over 11.7 million mobile phones during the quarter – up 11pc – out of the total global market of 286 million units.

The company estimates it now has a 39pc share of the global mobile device market, up from 36pc last year.

“Nokia strengthened its leading position in the device industry in the third quarter. In a strong market, we simultaneously gained market share and increased our operating margins,” said Ollie-Pekka Kallasvuo, chief executive of Nokia.

“The quality and depth of our device portfolio continues to give us a good competitive edge and we believe our portfolio looks promising for next year,” Kallasvuo added.

Looking ahead to the fourth quarter the company expects to keep the same market share of the world mobile market and expects device volume to be 1.1 billion units for the whole year, up from 978 million units in 2006.

The company said it expects to see very slight market growth for the mobile and fixed infrastructure market in euro-terms in 2007.

By John Kennedy