Nokia nearly doubles quarter profits


In figures released today Nokia revealed that its net profit had risen to 1.56 billion euros between July and September, which is up from the 845 million euros posted last year.

Nokia sales have risen by 28 per cent to 12.89 billion euros up from 10.1 billion euros a year earlier. But this figure falls short of the 13.9 billion euros that was predicted by analysts.

Worldwide shipments of handsets also rose by 26 per cent to 111 million units.

Nokia shares have risen by seven per cent to 27.34 euros after the group released the figures.

Nokia chief executive Olli-Pekka Kallasvuo said: "Nokia strengthened its leading position in the device industry in the third quarter.

"In a strong market, we simultaneously gained market share and increased our operating margins. The quality and depth of our device portfolio continues to give us a good competitive edge and we believe our portfolio looks promising for next year."