Nokia plans to ring up a profitable 2010

Mobile giant forecasts industry mobile device volumes to increase by 10% next year

Tags: Economic crisisFinlandNokia Corporation
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Nokia plans to ring up a profitable 2010 "I see great opportunity for Nokia to capture new growth in our industry, by creating what we expect to be the world's biggest platform for services on the mobile" - Nokia CEO Olli-Pekka Kallasvuo (Getty Images)
By  Vineetha Menon Published  December 3, 2009

Nokia is optimistic about the coming year, forecasting that sales volumes of mobile phones would grow by about 10% percent next year worldwide, compared to an approximate 7% decline this year.

In its annual Capital Markets Day event, the company set targets for the coming year including the release a new device powered by the Linux-based Maemo 6 platform by mid-2010 and ‘significantly' increasing the number of touch and/or QWERTY devices in their smartphone range, while reiterating its commitment to the Symbian mobile operating system.

"In 2010, we will drive user experience improvements, and the progress we make will take the Symbian user interface to a new level. As an operating system, Symbian has reach and flexibility like no other platform, and we have measures in place to push smartphones down to new price points globally, while growing margins," Nokia CEO Olli-Pekka Kallasvuo said in a company statement.

Nokia reported a loss of 559 million euros in its third quarter this year compared to its profit of 1.09 billion euros for the same quarter of 2008.

The company is now looking to increase profitability next year by forecasting an operating margin growth from 12% this year to 14% in 2010 for its Devices and Services unit.

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