By Allen Tsai | Thu Jan 28, 2010 5:18 am |
Nokia reported a 65 percent rise in fourth-quarter profits and said it had gained market share in smartphones despite strong competition from rivals Apple and Research in Motion.
The Espoo, Finland-based company posted a $1.3 billion profit for the last three months in 2009, up from $808 million last year, beating analysts' expectations of $870 million.In the quarter, Nokia sold 127 million handsets compared with 113 million units a year earlier. "We grew our market share in smartphones in the fourth quarter, driven by the successful launch of new touch and QWERTY models," said Olli-Pekka Kallasvuo, Nokia's chief executive. The positive results painted an upbeat forecast for the embattled handset leader. The company had fallen behind due in part to a weakened global economy, an outdated portfolio of smartphones, and gains by smartphone specialists Apple, Research in Motion and now newcomer Google -- with its Nexus One. But now Nokia, which backs its own Symbian operating system, said its smartphone market share has risen to 40 percent, up from 35 percent in the third quarter of 2009. Last week, the company said it would giving away its mapping software for free, in a move to boost its smartphones sales and counter Google, which began giving away its own mapping software on Android devices last year. Nokia's announcement comes after positive reports from Apple, LG Electronics and Sony Ericsson, signaling improved handset market growth in the year ahead.
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Thu Jan 26, 2012 2:39 pm | By
Nokia's recent loss in profits highlights the company's difficult transition, as it shifts towards Windows phones and gears up for big changes in this year.
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Thu Jan 26, 2012 11:14 am | By
Nokia's Windows Phone-powered Lumia 900 will sell for $100 when it launches at AT&T later this year, according to reports, in a move that will raise the profiles of the maker and the OS.
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Tue Jan 24, 2012 11:30 am | By
Nokia shipped more than one million Lumia handsets last year, analysts estimate, signaling early success for the company's critical Microsoft partnership.
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Thu Jan 12, 2012 1:02 pm | By
Analysts predict a surge of sales for the Windows Phone platform, as Nokia and Microsoft head into the smartphone market in 2012 with updated hardware and plans for heavy promotion.
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