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Nokia Sees Boom in 2nd Quarter

Phone giant steals share from Motorola

Posted Aug 2, 2007 1:31 PM CDT

(Newser) – Cellphone leader Nokia’s sales rose 29% in the second quarter, the most in five quarters, and its profit more than doubled as it stole market share from Motorola, Bloomberg reports. The Finnish company’s stock hit a 5-year high today as shares jumped 9.3% to 22.50 euros.

Selling 13 phones every second, Nokia vastly outperformed Motorola, which lost money on the quarter after failing to launch a follow-up to the popular Razr. Nokia’s market share hit 38 percent, making it bigger than the next three companies combined.

[Images (4)]

[Videos (1)]

Tero Ojanpera, chief technology officer for Nokia, answers a reporter's question as he holds Nokia's N95 mobile phone equipped with 5 megapixel camera during the Seoul Digital Forum 2007, a three-day... (Associated Press)

Chinese attend a mobile device application demonstration for Nokia during an event held by the company at a hotel in Beijing Monday, May 28, 2007. Finland-based Nokia has provided China Postel Mobile... (Associated Press)

A Nokia N95 multimedia phone is seen at the 2007 International Consumer Electronics Show (CES) in Las Vegas, in this Jan. 11, 2007 file photo. (AP Photo/Damian Dovarganes, file) (Associated Press)

Nokia Inc.'s new Nokia N93i, a compact and stylish digital camcorder and multimedia computer in one is displayed at the 2007 International Consumer Electronics Show (CES) in Las Vegas, in this Jan. 10,... (Associated Press)

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Olli-Pekka Kallasvuo, CEO of Nokia introduces the N76. (pcmagazinebr (YouTube))

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Nokia Sees Boom in 2nd Quarter