Nokia 'has 40% market share'

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Nokia 'has 40% market share'

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By Editorial Team (Friday, 25th January 2008)

The latest sales figures from Nokia showed that the company sold four in every ten phones internationally by the end of 2007, meaning it reached its target 40 per cent market share.

As share prices increased by 14.6 per cent, it is reported that the company's profits were up 46 per cent to $11.6 billion (£5.86 billion).

"We are currently seeing a healthy market and good underlying demand for our products," explains Rick Simonson, Nokia's chief financial officer.

Nokia has targeted emerging markets with cheaper handsets and now China, the Middle East and Africa account for 40 per cent of handset sales.

Although these markets are focused on cheaper sales, Nokia states that the volume of the consumer market has ensured healthy profits.

Nokia was established in 1865, when Fredrik Idestam built a papermill in Finland, although the company did not enter the mobile phone industry until 1981.