Business World

Saturday 21 April 2018

Nokia fourth-quarter profits up 65pc

Diana ben-Aaron

Mobile phone maker Nokia said its fourth-quarter profit rose 65pc, beating analysts’ estimates.

Net income rose to €948m from €576m a year earlier. Sales were €12bn. Analysts predicted profit of €572m on sales of €11.2bn, according to the average estimate in a Bloomberg survey.

Nokia is adding features such as free navigation to smartphones as it revamps user interfaces to compete with the iPhone and Google’s Android software.

It’s also unveiling lower-priced phones with smartphone features such as touch-screens and internet browsers.

Chief Executive Officer Olli-Pekka Kallasvuo said last month that the company would aim to hold its volume market share steady this year while raising its share of industry profits.

Shares of Nokia rose as much as 10.6pc to €9.98. They were trading up 9pc at €9.83 at 1:11pm in Helsinki.


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