Nokia reported a net profit of $1.9 billion in the first three months of the year, 25% more than $1.6 billion in the same period in 2007 but below analyst forecasts. Revenue grew 28% to $20 billion from $15.6 billion a year earlier, with strong growth of handsets sales in Asia, the Middle East and Africa.
Markets had been expecting a better result: A Factset analyst poll cited by Dow Jones Newswires forecast a 42 % rise in profit.
Nokia's market share slipped from 40% in the October-to-December quarter to 39% in the first quarter this year. But it sold 115 million mobile devices in the first quarter, up 27 % from a year earlier, and its market share was 3 points higher than in the first quarter a year ago.
Source : Nokia PR