Nokia reports Q3 sales and operating profit up

Nordic Business Report, Oct 18, 2007

NORDIC BUSINESS REPORT-18 October 2007-Nokia reports Q3 sales and operating profit up(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com

Finnish telecomms solutions provider Nokia (NYSE: NOK) reported on Thursday (18 October) an operating profit of EUR1,862m on net sales of EUR12,898m for the financial period July-September 2007, increasing, respectively, from EUR1,510m and EUR10,100m, for the corresponding period in 2006.

Net sales for the Mobile Sales division increased by 3% to EUR6,131m, while operating profit increased by 78% to EUR1,388m. Net sales for the Multimedia division increased by 23% to EUR2,580m and operating profit by 57% to EUR575m. Net sales for the Enterprise Solutions division increased by 105% to EUR526m while operating profit improved to EUR88m from a loss of EUR65m.

Net sales for the joint venture Nokia Siemens Networks amounted to EUR3,674m, while the operating result was a loss of EUR120m.

Earnings per share (EPS) in the third quarter amounted to EUR0.40, up by 90% from the corresponding period in 2006.

Nokia device volumes in the third quarter amounted to 111.7m units, up 11% sequentially and up 26% year on year. Nokia estimated its device market share at 39%, up from 38% in the second quarter of 2007 and up from 36% in the third quarter of 2006.

Operating profit in the financial period January-September 2007 amounted to EUR35,341m, up by 20%, while operating profit was EUR5,493m, up from EUR3,969m in the corresponding period in 2006.

Nokia expects industry mobile device volumes in the fourth quarter of 2007 to increase slightly, sequentially. It also expects industry mobile device volumes in 2007 to be some 1.1bn units, up from the approximately 978m units estimated for 2006.

Nokia, headquartered in Espoo in Finland, is a global mobile phone and network equipment manufacturer. It has nearly 59,000 employees worldwide. Nokia is listed on the Helsinki, Stockholm, Frankfurt and New York stock exchanges.

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