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Nokia profits down 7% in Q1

Nokia profits down 7% in Q1
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First Published: Thu, Apr 19 2007. 05 07 PM IST
Updated: Thu, Apr 19 2007. 05 07 PM IST
AFP
Helsinki: Nokia, the world’s leading maker of mobile phones, said on 19 April that ts net profit had slipped by 7% in the first quarter due to restructuring costs though sales had risen by 4%.
Net profit dipped to $1.33 bn (Rs 5,985 crore) though overall sales rose from 9.5 to 9.8 billion euros during the period, but the value of mobile phone sales shrank by 5% to 5.5 billion euros as the company sold an increasing share of low-end phones on developing markets such as China and India.
The Finnish company said its share of the global mobile phone market had risen from 35-36% during the quarter. Nokia sold 91.1 mn phones during the quarter, a rise of 21% from a year earlier, out of a total of 253 mn phones sold worldwide from January to March.
The price of the Nokia share rose by 3.76% on the Helsinki stock exchange, a half-hour after the earnings report was presented.
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First Published: Thu, Apr 19 2007. 05 07 PM IST
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