Nokia back in black, posts 322 mn euro profit for Sep quarter
Finnish cellphone-maker Nokia swung into a profit of 322 million euros for the three months ended September, helped by higher sales.india Updated: Oct 21, 2010 20:23 IST
Finnish cellphone-maker Nokia swung into a profit of 322 million euros for the three months ended September, helped by higher sales.
The world's largest mobile phone manufacturer had suffered a 913 million euro loss in the corresponding quarter of the previous year, after being saddled with massive impairment charges.
Faced with intense competition, especially in the smart phone segment, Nokia is looking to bolster its overall market share under newly-appointed CEO Stephen Elop.
The higher September quarter profits came on the back of increased revenue of 10.27 billion euros in the September quarter of 2010, an increase of about 5 per cent compared to the same period a year ago.
"Our company faces a remarkably disruptive time in the industry, with recent results demonstrating that we must reassess our role in and our approach to this industry," Elop said in a statement.
The Finnish entity, which has a good presence in India, saw total mobile device volumes of 110.4 million units in the September quarter, 2 per cent more than in the comparable period last year.