Nokia announced better than expected third quarter results, despite a fall in the average price of its handsets.
Nokia announced better than expected third quarter results, despite a fall in the average price of its handsets.
Operating profit margin for the mobile phone division rose to 22.6%, and the division reported sales of $8.7 billion, up 3% from the previous quarter. Despite the fact that the average selling price of phones in the third quarter fell to $117, from $129 the quarter before. Analysts had forecast an average price of $127.
Overall, Nokia’s total global sales rose 28% to $18.4 billion, a 26% increase from the same quarter last year.
Nokia also announced the latest addition to its N series wireless device line up. At the Web 2.0 Summit in San Francisco, Nokia unveiled the N810 Internet Tablet - a pocket-size Linux-based OS2008-based wireless device designed for heavy mobile Internet use. The N810 does not include a cellular radio, but does come with Wi-Fi and Bluetooth. It also includes built-in maps and a satellite navigation system, as well as a touchscreen and slide-out keyboard.
“The Nokia N810 packs the power of a traditional computer into a pocket-sized format. Its open standard technology accelerates the convergence of multiple functionalities and services into a single device,” said Ari Virtanen, vice president of Convergence Products and Multimedia at Nokia, in a statement. “Our new Nokia N810 offers users a true Web 2.0 experience in a compact, stylish, yet affordable package.”
The N810 is expected to start shipping mid-November, at an estimated price of $479.
