Nokia Blows Away the Competition

Nokia Siemens Networks is rocketing past its rivals thanks to sales in emerging markets and growth in high-end phones.

The Finland-based company on Thursday reported a 44 percent boost in fourth-quarter 2007 profits, to $2.68 billion. That’s compared to $1.27 billion a year earlier. Meantime, sales reached $23 billion and selling prices and margins on mobile phones also grew.

Nokia now claims 40 percent market share worldwide, although its North America share dropped to 5.1 percent. The company has said it’s going to use more muscle to tackle U.S. sales but ABI Research analysts expressed skepticism.

"Despite repeated declarations from senior management that Nokia will recover its position in the North American market, it has so far failed to do so," analysts wrote in a note to clients.

Share this article: Email, Slashdot, Digg, Del.icio.us, Yahoo!MyWeb, Windows Live Favorites, Furl
Add this article feed to: RSS, My Yahoo, Newsgator, Bloglines