January 24, 2008 9:29am
Finland-based Nokia said fourth-quarter net profit surged 44 percent to $2.6 billion and that they reached its long-term goal of 40 percent market share in handset sales
Sales in October through December grew 34 percent to 15.7 billion euros ($22.9 billion), this accounts for more than 133 million handsets — up 27 percent from the same period in 2006.
CEO Olli-Pekka Kallasvuo said “Nokia’s excellent fourth quarter contributed to a year of high growth and increased profitability for the company, while our industry leading product portfolio drove our device business to an estimated 40% market share in the fourth quarter. At the same time we again increased our quarterly device margins, allowing Nokia to continue to invest for innovation and growth. With this we believe Nokia is well positioned for growth in 2008.”