News Article
Nokia posts solid results
Nokia, the world s largest mobile phone manufacturer, beat its own estimates of 20% sequential growth in the final quarter of 2001, posting net sales of 8.79 billion euro ($7.7 billion). The pro forma earnings of 0.24 euro per share also beat the company s estimates of 0.18-0.20 euro per share. However, sales decreased 5% from the 9.28 billion euro ($8.14 billion) reported in the last quarter of 2000. Overall, net sales grew by 3% in 2001, rising from 30.38 billion euro ($26.63 billion) in 2000 to 31.19 billion euro ($27.35 billion) in 2001.
Nokia stated that its market share for handsets in 2001 grew to 37%, and that total handset sales jumped by 9% in the fourth quarter of 2001 to 140 million units. The company predicts that handset shipments will be in the 420-440 million range for 2002; earlier this week Motorola predicted shipments of 420 million units for the year.
Looking ahead, Nokia predicted that its sales would fall 6-10% in the first quarter of 2002, compared to the year-ago period. The second quarter is expected to see growth in the low double-digits range, followed by 25-35% growth by the fourth quarter.
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