Nokia posts strong results

Published April 18, 2008

HELSINKI, April 17: Nokia, the world’s leading mobile phone maker, on Thursday posted strong first quarter results but saw its market share slip and missed market forecasts, sending its share price tumbling.

Net profit for the January-March period rose 25 per cent to 1.22 billion euros ($1.95 billion) from the same quarter a year ago, while sales grew 13 per cent to 12.66 billion euros, the company said in a statement.

The Finnish mobile phone giant’s market share in the first quarter of the year stood at 39 per cent, compared to 36 per cent a year ago, but down from 40 per cent in the fourth quarter of 2007.

Nokia said it expected its market share to increase in the second quarter compared to the first three months of the year.

The company said its handsets on average sold for 79 euros each in the first quarter, missing analyst estimates for a price of 81 euros.

It reiterated that it expected the global mobile device market to grow by around 10 per cent this year.

After the results, Nokia shares plunged 8.11 per cent to 19.25 euros on the Helsinki stock market, which was down 0.57 per cent. —AFP

Opinion

Respite needed

Respite needed

All one can fear is a familiar accounting exercise that aims to extract a few more rupees from a narrow, weary economic base.

Editorial

Soft on traders
08 Jun, 2026

Soft on traders

THE Fixed Tax Asaan Scheme for traders with an annual turnover of up to Rs200m has been designed as a ‘pragmatic...
Ceasefire in name
Updated 08 Jun, 2026

Ceasefire in name

Both sides accuse the other of violating the truce that was supposed to halt the conflict in April, yet neither appears willing to abandon negotiations altogether.
Damaged childhoods
08 Jun, 2026

Damaged childhoods

CHILD abuse is so prevalent that the UN ranked Pakistan as the least safe country for children. Even so, more than...
JAAC ban
Updated 07 Jun, 2026

JAAC ban

Though the JAAC’s demands are open to scrutiny, banning any political organisation — as long as it remains committed to peaceful activism — is undemocratic.
GB election
Updated 07 Jun, 2026

GB election

It is important that whichever party ultimately forms the government puts the needs of the people of GB above everything else.
ODI win
07 Jun, 2026

ODI win

AT last, the Pakistan cricket team had something to celebrate: a One-day International series victory against...