View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
April 30, 1997updated 05 Sep 2016 12:31pm


By CBR Staff Writer

Nokia Oy, the Helsinki-based telecommunications company and world’s second largest maker of mobile phones, has had an even better first quarter than its Scandinavian rival Ericsson. Nokia has turned in net profits which shot up 231% to the equivalent of $206.6m, on revenue that rose 42.9% to $2,182.2. And just like the Swedes across the border, Nokia’s mobile phones have been at the heart of matters, contributing 54% of the company’s total revenues. The Mobile Phone section also turned a previous year’s loss into a healthy profit for the equivalent quarter and is mainly responsible for the huge percentage growth in reported profits. Nokia now employs around 32,650 staff and, choosing its words carefully, it calls itself the world’s largest manufacturer of digital mobile phones. But China is where all the action is these days and Nokia and Ericsson are going head to head in what they both regard as the fastest growing telecommunications market in the world. Both companies have taken orders in the region of $20m to supply equipment for Shanghai’s fourth mobile network, where the number of digital mobile phone users is set to double to 600,000 in a single year.

Content from our partners
DTX Manchester welcomes leading tech talent from across the region and beyond
The hidden complexities of deploying AI in your business
When it comes to AI, remember not every problem is a nail

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.