Nokia's Q3 profits slide in region

Nokia, the world's biggest mobile-phone maker, saw its third-quarter profits shrink despite growing demand for its products in Asia.
Restructuring costs ate into improved sales, giving it profits of ¤845 million (Bt39.8 billion) between July and last month, down 4 per cent on a year ago. CEO Olli-Pallasvuo said last week that Nokia had delivered 20-per-cent net sales growth year on year, with excellent market-share gains in its device business. The company saw impressive share gains in the fast-growing emerging market, where it continued to build on its clear No 1 position. In the third quarter, the total mobile-device volume achieved by its mobile-phone, multimedia and enterprise-solution business group reached 88.5 million units, representing 33-per-cent year-on-year growth. The overall industry volume for the same period rose 22 per cent to an estimated 243 million units. Nokia enjoys a 34.5-per-cent share of the global market, followed by Motorola with 21 per cent and Samsung with 12 per cent. Nokia is the market leader in Thailand. Nokia expects industry mobile-device volumes this quarter to grow by 15 per cent or more sequentially and for the whole year to reach 970 million units, Pallasvuo said.
|