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Nokia’s Sales, Profits Up In Double Digits

7/20/2006 01:35:00 PM Eastern

Espoo, Finland — Second-quarter sales and operating profit for Nokia’s mobile phone operation worldwide grew at healthy double-digit rates.

Nokia reported that in the mobile phones segment, sales were $7.4 billion, up 21 percent from the last year’s second-quarter sales of $6.09 billion. Operating profit during the second quarter for mobile phones was $1.23 billion, a 24 percent gain from the previous year’s $987.6 million.

The company reported that its N series unit volume was up almost 60 percent to more than 3 million units while the Nokia WCDMA global device market share was up significantly to over 30 percent.

However Nokia’s unit sales volume in North America fell during the second quarter by 13.1 percent to 5.2 million units. The company reported that the decline was impacted by a “significant order cancellation at one of our customers in the prepay market.”

Consolidated first-quarter sales for Nokia were $12.2 billion for the quarter, up 22 percent from $10.1 billion in the previous year. Operating profit was $1.23 billion, up 24 percent from $987.6 million in last year’s first quarter. Operating profits were impacted by special items such as one-time sales of Telsim and France Telecom bond.

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