Handset manufacturing giant Nokia is doing what other leading mobile companies simply can't do – make money from low-end mobile phones. According to BusinessWeek, Nokia's third-quarter profit soared 85%, to $2.2 billion, handily beating analysts' estimates and sending its stock surging.
Despite grabbing a 39% global market share and controlling 50% of the global smartphone market, Nokia remains a distant player in the U.S. market.
This situation might change in the coming years with the recent acquisition of NAVTEQ and social networking site Twango. Then again, the entry of iPhone and other iPhone-wannabes signals a more competitive playing field.
October 22nd, 2007 at 6:29 am
Nokia makes nice candy-bar phones. Although the margins for these phones are lower than higher-end smartphones, the greater volumn makes it up.
February 25th, 2009 at 1:44 am
It is only going to get more and more competitive as time goes on, so Nokia better save those profits as they are going to need them to break into the US