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Nokia delivers huge profits hike

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Nokia's swallowed an estimated 39 per cent of the global mobile phone market in its third quarter, sending profits rocketing 85 per cent.

Net income hit £1.09bn, compared to £590.3m for the same period a year ago. A gold star goes to Nokia's Enterprise Solutions division, which boosted its revenues 105 per cent.

Overall, sales were up 28 per cent to £9.01bn.

The bread and butter Mobile Phones division produced a three per cent revenue increase, though as usual delivered good margins on its basic handsets. Nokia's bid to sell "multimedia computers" instead of cheapo phones took another knock: the average selling price for one of its handsets slid 8.9 per cent to just over £57.

Still, it beats the bejaysus out of Motorola, whose last financials reported its second loss in a row and prompted 7,500 job cuts. It's been overtaken by Samsung in the mobile phone super league.

Nokia's official report is here. ®

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