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Nokia Posts Higher Q4 Operating Profit

Stockholm, Sweden
– Nokia reported a higher operating profit but lower net sales for the fourth
quarter, ended Dec. 31, 2009.

Operating profit
was 1.47 billion euros, a gain of 18.9 percent from the prior year’s fourth
quarter, while net sales slumped 5.3 percent to 11.9 billion euros.

Olli-Pekka Kallasvuo,
Nokia’s CEO, said in a prepared statement, “We grew our market share in
smartphones in the fourth quarter, driven by the successful launch of new touch
and QWERTY models. Our performance in smartphones, combined with continuing
success in the emerging markets, helped us increase sales in our devices and
services unit, both quarter on quarter and year on year. Our solid results also
owe a good deal to world-class supply-chain management and impressive sales
execution. “

He added, “Our
focus remains firmly on execution, especially around user experience. Here I
want to highlight our move to shake up the navigation market with free walk and
drive navigation on our smartphones, a good example of how we are leveraging
our assets to bring real benefits to consumers.”

In its devices and
services unit during the fourth quarter of 2009, total mobile device volumes
were 126.9 million units, representing an increase of 12 percent year on year.
The overall industry mobile device volumes for the same period were 329 million
units based on Nokia’s estimate, representing an increase of 8 percent year on

Of the total
industry mobile device volumes, converged mobile device industry volumes in the
fourth quarter 2009 increased to 52.4 million units, based on Nokia’s estimate,
compared with an estimated 47 million units in the third quarter 2009.

Nokia’s converged
mobile device volumes, comprising smartphones and mobile computers, were 20.8
million units in the fourth quarter 2009, compared with 15.1 million units in
the fourth quarter 2008 and 16.4 million units in the third quarter 2009.

Nokia’s share of the
converged mobile device market was an estimated 40 percent in the fourth
quarter 2009, up from an estimated 35 percent in the third quarter 2009.

The company
reported that North America unit sales for in the fourth quarter were 3.8
million, down 7.3 percent from the prior year’s final quarter.