Nokia Q3 profits jump 85% to $2.2B
By Nilay Patel 
posted Oct 18th 2007 7:24PM
posted Oct 18th 2007 7:24PM
While everyone else was distracted by some touchscreen thing, Nokia spent the past quarter absolutely dominating the worldwide market for low-end phones, and the results, announced today, seem like the company might have the right idea: Nokia's profits rose 85 percent to 1.56B euros ($2.2B) on a sales increase of 28 percent to 12.9B euros ($18.2B). Although the increase this quarter was chalked up to increased sales of phones that cost less that $40 in Africa, the Middle East, and Asia, sales did fall in North America -- something Nokia will have to turn around if the company is to achieve its goal of a worldwide 40 percent market share. That's for another day, though -- for now, onnentoivotus!
Nice, maybe Nokia'll dominate the world's cellphone sales by selling low-end phones fabricated from Slave/Chinese workers who don't mind getting paid 2 USDs an hour (for 20 hours) to manufacture them. Ahh, we love Wal-mart. [/sarcasm]
sarcasm is an art for few...
I'm sorry sir, but we're going to have to confiscate your sarcasm license.
Epic Fail.
95% of the electrons in a normal US home is made in China
Nokia inspects all the factories that produce products for them including their Chinese factories and crack down on any abuse.
LOL, I bet he was expecting to be the highest ranked post
Really, Adrian? Where do they make the protons and neutrons? :p
gee's, these numbers (turnover and profit) make Apple look small.
"While everyone else was distracted by some touchscreen thing" thank you, in other words... game, set and match.
"...low-end phones fabricated from Slave/Chinese workers..."
Then don't buy a cheap, low-end Nokia phone -- buy a high-end Nokia phone (i.e. the N-series), which is produced by highly paid Finnish workers with 6 weeks of paid vacation a year, 11 months maternity leave, (almost) free health care, free education from grade 1 to university, and so forth -- but don't complain about how much the phone costs!
Good for me I bought Nokia at $14.75 per share
Kippis!
Not Finnish, but I went there this summer :)
I love it when Nokia (and others) get bashed for releasing low-end phones in other posts, when it's clear this is an essential component driving growth for Nokia's business.
"Nokia spent the past quarter absolutely dominating the worldwide market for low-end phones"....err they also spent the past quarter absolutely dominating the worldwide market for high-end phones too. Many people in the civilized world consider the N95 and the N-series in general to be far superior to the the iClone engadget likes to harp on about.
Nokia owns the market because the other manufacturers handsets, such as Motorola's, are downright crappy.
Thought Nokia dominates the high end markets too
The N- and E-Series has grown with 62% from Q3 2006 to Q3 2007. 31,7 million N- and E-series sold in Q3 2007.
They are getting 40% in Q4 its just fact with current Motorola performance. Thought after that it starts to get tricky...actually only market where they could do better is North America.
These are the intresting bits
The Nokia 6300 is the number one revenue generator for Nokia and the device has sold 6 million units this quarter.
14% of the devices Nokia shipped in Q3 were smartphones.
N95 shipments increased 10% compared to last quarter, that indicates that there are over 2 million N95’s floating around out there.
JamL, where did you find this 10% increase? If you are right, then July-Sept Nokia sold 1.65 million N95s? (They have sold 1.5 million in 2Q according to their report.)
So then, all together there _more than 3 million Nokia N95_ around? I see them a lot lately everywhere, but that would be quite (too?) impressive.
Could you link where you've found the 10% increase?
It was mentioned in the earnings release presentation webcast...
Aye. I was actually trying to find that info from some where else too.
Source http://www.intomobile.com/2007/10/18/nokia-q3-2007-conference-call-85-increase-in-profit-from-a-year-ago-plus-other-good-news.html#comments