Nokia reports dip in 3Q sales; handset market share rises to 39%

17 Oct 2003

For the three month period ended 30 September 2003 Nokia has reported a 5% decline in revenues to EUR6.9 billion. Sales of mobile handsets were flat at EUR5.6 billion, while revenues from Nokia Networks fell 21% to EUR1.2 billion. Year-on-year Nokia shipped 23% more mobile handsets in the quarter, selling 45.5 million units, and increasing its global market share from 36% to 39%. Its position in the global CDMA market also improved, with the company doubling its market share to ‘the mid-teens’. Nokia expects to maintain momentum in the CDMA arena going into Q4, with increased shipments to China, India and the US. Net sales at Nokia Mobile Phones for the fourth quarter are predicted to be flat or slightly up year-on-year, muted by a major depreciation of the US dollar. At Nokia Networks 4Q sales are forecast to run in at USD1.4 billion, with pro-forma operating profit expected to reach breakeven.