Nokia net sales hit €8.4 billion during 3Q

Demand from developing countries has pushed down the average selling price of handsets at the world's top manufacturer.

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By  Alex Ritman Published  October 20, 2005

Nokia has announced 3Q results in line with analyst expectations, with the main driver being growth from demand in emerging markets. The world’s number one handset manufacturer announced an 18% rise in 3Q net sales to €8.4 billion (US$10.1 billion). Operating profits rose 19% year on year to €1.1 billion. But the demand from developing countries has pushed down the average selling price per handset to €102, down from €105 in 2Q and €108 a year ago. The company is predicting further average price declines in 4Q. According to CEO Jorma Ollila, Nokia’s market share has grown to an estimated 33%, up from 32% in the third quarter last year. “We continued to gain share both sequentially and year on year in China and Asia Pacific, while our share in Europe/Middle East/Africa was stable sequentially and grew year on year.” In the EMEA region, Nokia’s 3Q 2004 handset sales hit 32.2 million, up 30% from 27.8 million in 3Q 2005. The growth largely reflected continuing strong overall market growth in the Middle East, Africa and Russia. Total handset sales reached 66.6 million in 3Q 2004, a 29% rise on the 51.8 million sold in 3Q 2004.

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