Nokia makes fortune in Q2

Euro it makes sense

Finnish telecoms firm Nokia turned in stonking results for its second financial quarter. Sales amounted to €4,493,000,000, a rise of 45 per cent, with profits increasing by 56 per cent to €881,000,000. That gave Nokia an operating margin of nearly 20 per cent. For the first six months of the year, sales were €8,363,000,000. All geographies performed strongly, the company said, with Europe forming 56 per cent of net sales, the Americas 21 per cent, and Asia Pacific 23 per cent. CEO Jorma Ollila said that Nokia will meet or even exceed its projected sales target in 1999 of 25-35 per cent growth. ®

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