Nokia knocks up analyst-beating results and upgrades 2005 forecasts

22 Apr 2005

Finnish handset manufacturer Nokia has reported that net income for the first quarter of 2005 rose 18% year-on-year to EUR863 million (USD1.1 billion). The figure – which beat analysts’ expectations – comes on the back of sales growth of 18% to EUR7.4 billion, as the vendor shipped more than 54 million mobile handsets in the period (up 20%). Asia accounted for the largest growth, with sales for the region up 44%. Nokia’s share of the global handset market slipped slightly in Q1 2005, down to 32% from 34% at the end of 2004. The generally strong results prompted the company to upgrade its forecasts for 2005: it expects second quarter turnover to come in between EUR7.9 and EUR8.2 billion (against EUR6.6 billion a year ago), and for total industry handset shipments for the year to reach 740 million mobiles (643 million in 2004).

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