Nokia Records 60% Increase in Q2 Profits on the Back of Strong Growth in Core Network Sales

Nokia posted an impressive EURO 347 million in the second quarter this year, a solid 60 percent rise in its net profit compared the same quarter last year. The results are driven by the company’s strong growth in its core networks division, particularly within the software side of mobile broadband and its global services. Nokia’s overall sales for the quarter increased 9 percent to reach EURO 3.2 billion.

Nokia said that its networks unit contributed EURO 313 million, 85 per cent of total revenue, while profits of its two other divisions, Here mapping services and Nokia technologies also posted improvements during the period. 

Hannu Rauhala, senior analyst at Pohjola Bank, said the figures dispelled fears among investors that Nokia would suffer from a general sluggishness in global network business.

Rajeev Suri, CEO Nokia
I am particularly pleased by Nokia Networks, which delivered improved performance overall, despite a year-on-year decline in net sales on a constant currency basis. Software sales were up significantly; core networking sales improved; we saw a reduced impact of strategic entry deals; Global Services had one of its best quarters in the history of the company; and costs remained well under control.

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