Duh Moment: Nokia Makes Tons of Money, 44% Increase in Profit

Duh Moment: Nokia Makes Tons of Money, 44% Increase in Profit

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Unlike Motorola (who is going through some rather tough times lately), Nokia is more profitable than ever, firmly securing its place as the world’s biggest mobile phone maker. Hard numbers are starting to come in for Q4 2007 and it turns out that Nokia is just rolling in the dough, not really knowing what to do with all this money.

The fourth-quarter net profit for the Finnish firm “surged 44 percent to $2.6 billion.” In addition to making all this money, Nokia is also managing to get in the hands of more and more users, having recently reached its long-term goal of 40 percent market share in handset sales. Forty freaking percent! That means that nearly one half of phones sold are built by Nokia.

During Q4 2007, Nokia sold more than 133 million handsets, which represents a 27% increase over the same period in 2006. “Nokia’s excellent fourth quarter contributed to a year of high growth and increased profitability for the company,” Chief Executive Olli-Pekka Kallasvuo said.

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