Nokia Shows Q1 Strength PDF Print E-mail
Written by Mike Buetow   
Thursday, 17 April 2008 07:17
HELSINKI -- Nokia posted strong first-quarter results, reporting revenues of €12.66 billion, up 28% year-over-year. Operating profit rose 20% to €1.53 billion.  The world's leading supplier of cellphones shipped 115.5 million units during the quarter, up 27% over last year and slightly above the normal seasonality and trends.

Average selling prices were €79, down €4.

Network revenue was €3.4 billion, down 26% sequentially, with an operating loss of €74 million. Nokia forecast volume growth of 10% for 2008, but said it expects handset revenue to decline during the year because of the weaker US dollar and weakening economic conditions in the US and possibly Europe.

Overall phone volumes were up 7.5% year-over-year in Western Europe and 63% in Latin America. China saw 4% sequential growth and 33% year-on-year growth.

High-end phone volumes were up 24% to 14.6 million, compared to market growth of 42%. Nokia retains about a 50% share in the high-end market.
 

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