HELSINKI—Nokia Corp. reported decreased profits for the fourth quarter ended Dec. 31, but increased sales for the year, helped along by an increase in worldwide mobile-phone market share, which now stands at 37 percent, according to the company.
The company recorded fourth-quarter net sales of $7.7 billion, compared with sales of $8.15 billion for fourth-quarter 2000. Sales for 2001 came to $27.37 billion, compared with $26.66 billion last year.
Profits for the quarter were $398.7 million, or 9 cents per share, compared with $1.05 billion, or 23 cents per share, for the same period last year. Profits for the year totaled $1.93 billion, or 41 cents per share, compared with $3.45 billion, or 74 cents per share, reported for 2000.
Jorma Ollila, chairman and chief executive officer of Nokia, said he is “more than happy” about Nokia’s better-than-expected fourth-quarter performance, and he believes the company is on track to achieving a 35-percent share of the overall mobile market in the long term.
