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Nokia's Q3 earnings soar to 1.56bn euros

Nokia Corp reported a near doubling of its third-quarter earnings and a larger share of the global handset market yesterday as it benefited from strong sales in areas like India and China.

Shares in the world's largest mobile phone maker jumped 7 percent.

Nokia's net profit came to 1.56 billion euros (US$2.2 billion) in the July-September period, up from 845 million euros a year earlier.

Sales rose 28 percent to 12.89 billion euros from 10.1 billion euros, less than the 13.09 billion euros analysts had predicted.

Nokia said its handset division showed an increase of 3 percent in revenue, with a global market share of 39 percent -- up from 36 percent in the same quarter last year and near Nokia's long-stated goal of 40 percent.

The company cited strong sales figures in burgeoning, high-volume markets such as India and China -- along with a rising demand for its feature-laden multimedia phones.

It said that worldwide, mobile phone shipments jumped 26 percent with more than 111 million units shipped.

"Nokia strengthened its leading position in the device industry in the third quarter," chief executive Olli-Pekka Kallasvuo said. "In a strong market, we simultaneously gained market share and increased our operating margins. The quality and depth of our device portfolio continues to give us a good competitive edge and we believe our portfolio looks promising for next year."
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