Nokia posts $467 million profit in Q1

Nokia posts $467 million profit in Q1

Helsinki: Nokia Corp. says first-quarter net profit surged to euro349 million ($467 million) from euro122 million a year earlier with strong growth in smart phone sales.

The world’s top mobile phone maker says net sales were up 3% at euro9.5 billion in the January to March period.

CEO Olli-Pekka Kallasvuo said on 22 April that Nokia’s smart phone shipments had grown 50% year-on-year.

The Finland-based company saw handset sales grow 8% in the quarter, to euro6.7 billion, compared to 2009.