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Nokia quarterly profit falls 4% on restructuring costs -
Nokia Corp. , the world's largest mobile-phone maker, on Thursday said third-quarter profit fell 4% to 845 million euros from 881 million euros a year earlier. Earnings per share came in at 0.21 euros compared to 0.20 euros a year ago. Nokia took a charge of 128 million euros in the quarter related to the restructuring of its CDMA business. Excluding that charge, earnings would have come in at 0.23 euros a share. Sales rose 20% to 10.1 billion euros. Analysts polled by Helsinki-based Kauppalehti/SME on average had been expecting earnings of 0.22 euros on sales of 9.878 billion euros ($12.36 billion). Operating profit at the company's mobile-phone business fell 11% to 779 million euros. The operating loss at the enterprise solutions division widened to 65 million euros. Nokia said it shipped 88.5 million phones in the quarter, up 13% sequentially and 33% year on year. The average selling price fell to 93 euros from 102 euros in the second quarter, below consensus of 100 euros. Nokia expects mobile device volumes to rise 15% in the fourth quarter. It sees its market share at approximately the same level as in the third quarter. Nokia said it sees a decline in industry ASPs in 2006, reflecting the increasing impact of the emerging markets.
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