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Written by Mike Buetow
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Thursday, 17 April 2008 |
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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