Nokia Connecting with New Businesses

Nokia has reported net sales of €6,939 million in Q3 2004, which is up eight percent from €6,874 in Q3 2003. However, its operating profits decreased 20 percent to €928 million from €1,154 million. Its operating margin also decreased to 13.4 percent from 16.8 percent. Its sales revenue from mobile phones was 13 percent down, €4,439 million this quarter compared to 5,118 million in Q3 2003, selling 51.4 million mobile units in this quarter. The operating profit from mobile phones this quarter dropped to €822 million from €1,473 million in Q3 2003 and the operating margin dropped to 18.6 percent from 28.8 percent. However, the group gained with its multimedia sales increasing 94 percent, reaching €914 million from €471 million in Q3 2003. Network sales also increased to €1,470 million from €1,217 million. The profits from this segment rose to €181 million from €4 million in Q3 2003 and operating profits here rose to 12.3 percent from 0.3 percent. Revenue from sales of enterprise solutions increased 52 percent, €173 million from €113 million.