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Nokia hits market-share goal for sales of handsets

World No. 1 mobile phone maker Nokia Oyj yesterday said that fourth-quarter net profit surged 44 percent to US$2.6 billion and that it had reached its long-term goal of 40 percent market share in handset sales. Its stock surged more than 12 percent.

The Finland-based company said that net sales from October to last month grew 34 percent to US$22.9 billion and that it sold more than 133 million handsets -- up 27 percent on the same period in 2006.

"Nokia's excellent fourth quarter contributed to a year of high growth and increased profitability for the company," chief executive Olli-Pekka Kallasvuo said.

The company said that it expects the device market to grow around 10 percent globally this year, but warned that during this month through March there would be a slight decline compared with the last quarter of last year.
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