By Lisa Johnston
New products on display at the American International Toy Fair, held in N
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.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.