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