Posted on Monday, 25th January 2010 by admin
Finnish handset maker Nokia Corp on Thursday reported a 65 per cent jump in net profit at 948 million Euros for the period ending December 31, 2009, despite a slump in sales figures.
In the year-ago period, the company had a net profit of $576 million, Nokia said in a statement.
Nokia’s net sales declined by 5 per cent to 12 billion Euros in the quarter under review.
The company boosted its share of the mobile phone market to 39 per cent during October to December period of 2009 from 38 per cent in the previous quarter and 37 per cent in the fourth quarter of 2008.
“We grew our market share in smart phones in the fourth quarter, driven by the successful launch of new touch and QWERTY models. Our performance in smart phones, combined with continuing success in the emerging markets, helped us increase sales in our Devices and Services unit, both quarter-on-quarter and year-on-year,” Nokia CEO, Olli-Pekka Kallasvuo said.
Kallasvuo also attributed good results to its world class supply chain management and impressive sales execution.
The company’s sales from devices and services inched up 0.5 per cent to 8.2 billion Euros in the fourth quarter of 2009 and 18 per cent since third quarter of 2009.
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Tags: Profit, Profit Swings
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