Nokia has reported a big jump in quarterly profits after the mobile phone maker grew its share in the increasingly important smartphone sector. Net profits came in at 882m euros ($1.2bn; £760m) for the last three months of 2009, a 53% increase on the 576m euros recorded a year earlier. This was achieved despite a […]
Nokia has reported a big jump in quarterly profits after the mobile phone maker grew its share in the increasingly important smartphone sector. Net profits came in at 882m euros ($1.2bn; £760m) for the last three months of 2009, a 53% increase on the 576m euros recorded a year earlier.
This was achieved despite a 5% fall in sales, from 12.6bn euros to 12bn euros. The strong results capped a tough year for Nokia in which 12-month profits fell from 3.9bn euros to 260m euros.
However, the launch of new models by Nokia helped to boost the firm’s profits in the final three months of the year.
“We grew our market share in smartphones in the fourth quarter, driven by the successful launch of new touch and Qwerty models,” said Nokia’s chief executive Olli-Pekka Kallasvuo.
“Our performance in smartphones, combined with continuing success in the emerging markets, helped us increase sales in our devices & services unit, both quarter-on-quarter and year-on-year.”
