Nokia doubled Q2 profit and increased penetration of its global market share to 38%.
Spurred by lower cost high-end devices like the N95, the Finnish company saw a 29% increase in mobile phone shipments to 101 million units. So much for the instant impact of the iPhone, although most of Nokia’s market share gains were attributable to Motorola’s losses. Analysts predict Nokia will command 40% of the market by the second half of 2007.
The numbers, from the Journal:
Nokia said that net profit for the three months to June 30 increased to e2.828 billion from e1.14 billion the year before. Nokia's earnings per share also increased to e0.72 cents from e0.28 cents, although diluted, excluding special items, this came in at e0.32, still ahead of analyst expectations of e0.28. Revenue increased 28.3% to e12.587 billion from e9.81 billion the same period of the previous year.
Nokia's Net More Than Doubles On Strong Sales, Bigger Market Share [Wall Street Journal]