Nokia facing stiff competition.. again!! Part 2: the hero..
In Finland someone is beating the drums of war, heavily!
The (much) awaited results came in, and Nokia posted a significant +4,7% growth in sales revenue in 3Q10, this without the contribution of the new smartphone(s) that
the company hopes will reshape its fortunes
Nokia went back to profit, after a full year of rollercoaster, hitting the €529m net profit, back from a valley of tears in 2009 (- €559m same timeframe). It may well be this was done because of the dominant position in broad but yet (slightly) under-developed markets such as the ones we just commented about here.
All in all, this is a nice comeback, furthermore if considering there could be some better news ahead, provided the company does not “match race” the smartphone competition, but rather try and hit hard leveraging what is still a massive asset: the brand.
Nokia shares soared after the earnings announcement, climbing 7.3% to €8.28.
Cheers anyone, this morning?! 🙂