Nokia reports 34 per cent net sales increase

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Analysts have hailed Nokia’s Q4 results as ‘stellar’ and claim it is now as big its four major rivals combined.

Nokia Q4 sales increased 34 per cent to 15.7 billion Euros from Q4 2006. Operating profit increased 64 per cent to 2.5 billion Euros.

In Europe, the manufacturer sold 37.2 million units, up 11.7 per cent from Q4 2006 and 28.3 per cent from Q3 2007.

In total Nokia sold 117.2 million devices in Europe in 2007, up 17.7 per cent from the 2006 total.

Nokia president and chief executive Olli-Pekka Kallasvuo said: “Our industry leading product portfolio drove our device business to an estimated 40 per cent market share in the fourth quarter.”

Nokia also predicted that global handset volumes for 2008 would grow 10 per cent to 1.25 billion.

Ovum mobile director Martin Garner said: “ ‘Impressive’ understates this performance. Nokia is now as big as Samsung, Motorola, Sony Ericsson and LG added together.

“It’s hard to see any other vendor getting close to this level for a long time.”

Garner added that Samsung would be Nokia’s main challenger this year for low-end handset sales.

 

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