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Electronics Production | October 18, 2007

Nokia's net profit rises 85%

Nokia has posted a sharp rise in its third quarter profit after it boosted its handset market share to 39%. Nokia said third-quarter net profit soared 85%.
The Mobile Phones operating profit included charges of EUR 128 million primarily related to the restructuring of the CDMA business and associated asset write-downs. Nokia diluted EPS of EUR 0.40, excluding special items, growing 74% from Q3 2006. The operating cash flow was EUR 2.0 billion. Comapnies operating margin of 14.6%, up sequentially from 11.0% in Q2 2007, excluding special items.

Nokia device volumes of 111.7 million units, up 11% sequentially and up 26% year on year. Estimated industry devicevolumes of 286 million units, up 9% sequentially and up 17% year on year. The comany estimated device market share of 39%, up from 38% in Q2 2007 and up from 36% in Q3 2006. Total device operating margin, and Mobile Phones gross margin, increased sequentially, despite Nokia's total device ASP of EUR 82 decreasing from EUR 90 in Q2 2007.
Nokia Siemens Networks operating margin, excluding special items, was -1.0% and was a positive 3.0%, excluding special items and Purchase Price

Nokia strengthened its leading position in the device industry in the third quarter. In a strong market, we simultaneously gained market share and increased our operating margins. The quality and depth of our device portfolio continues to give us a good competitive edge and we believe our portfolio looks promising for the launch of the Nokia IP2450.

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