According to Bloomberg, Nokia’s (NOK) net income rose to 2.83 billion euros ($3.87 billion), or 72 cents share. The company moved market share toward 40 percent by introducing new devices as competitor Motorola (MOT) lost money.
One analyst’s comments were particularly cruel: “Motorola’s capitulation in the second quarter has paved the way for Nokia to take full advantage of its strong low-end portfolio without facing major price pressure,” Helsinki-based Michael Schroeder, an analyst at Kaupthing Bank.
The average selling price of a Nokia phone stood 90 euros in the quarter, up from 89 euros in the previous quarter and down from 102 euros a year earlier.
The Finnish company shipped 101 million devices during the quarter, a 29 percent increase from a year earlier and an 11 percent gain sequentially.
Data source: Bloomberg
Douglas A. McIntyre
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
