Nokia's Q1 Phone Sales Climb 20%
Staff -- TWICE, 4/30/2001
HELSINKI, FINLAND — Exceeding earlier estimates, with faster-than-market growth in mobile phones, Nokia, the No. 1 mobile phone maker, said phone sales jumped 20 percent in the first quarter ended March 31. Phone sales reached $5.2 billion, compared with $4.3 billion in the first quarter of 2000. Total phone sales for all of 2000 was $19.4 billion.
Operating profit for Nokia's mobile phone segment climbed 4 percent in the first quarter, reaching $1.1 billion, compared with $1 billion in the year-ago quarter. Operating profit for all of 2000 in the phone segment was $4.3 billion.
In the first quarter, Nokia said it increased its market share in handsets. However, the company (with about 36 percent of its total business in mobile phones) said a slowing global economy had forced it to cut the overall sales and profit outlook for the full year.
Overall, Nokia's sales grew 22 percent to $7.1 billion in the first quarter. Pro forma operating profit increased by 8 percent to $1.3 billion, while pro forma operating margin was 18 percent. Pro forma operating margin for the mobile phone segment was 20.7 percent in the first three months.
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