Nokia (NOK): Winner And Still Champion

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According to Bloomberg, Nokia’s (NOK) net income rose to 2.83 billion euros ($3.87 billion), or 72 cents share. The company moved market share toward 40 percent by introducing new devices as competitor Motorola (MOT) lost money. 

One analyst’s comments were particularly cruel: “Motorola’s capitulation in the second quarter has paved the way for Nokia to take full advantage of its strong low-end portfolio without facing major price pressure,” Helsinki-based Michael Schroeder, an analyst at Kaupthing Bank.

The average selling price of a Nokia phone stood 90 euros in the quarter, up from 89 euros in the previous quarter and down from 102 euros a year earlier.

The Finnish company shipped 101 million devices during the quarter, a 29 percent increase from a year earlier and an 11 percent gain sequentially.

Data source: Bloomberg

Douglas A. McIntyre