Nokia is making money: Q2 sales, profits jump

With all the focus lately on Apple and the iPhone, it’s easy to forget that RIM has other, likely more serious, threats to their enterprise smartphone dominance. Sure, Motorola is in a bit of financial trouble, and Microsoft is burdened by the albatross that is Windows Mobile, but what about Nokia? Large, powerful, Finnish… Sounds like competition to me.

Nokia recently announced their Q2 financial results, and the results are good. The company reported a 28% jump in net sales to $17.2 billion USD, along with a rise in operating margin from 15.3% to 18.7%. Their net profit jumped to $3.87 billion USD, compared to $1.56 billion a year previously.

But what’s most staggering are their device numbers. True, not all of their devices sold are competitors to the BlackBerry, but it’s hard to argue with 100 million devices worldwide and 38% of the total global device market.

Olli-Pekka Kallasvuo, Nokia CEO commented: “Nokia continued to grow in the second quarter thanks to an excellent performance from our device businesses. Nokia’s share of the global device market improved to an estimated 38%, while operating margins in our device businesses were at their highest level in three years.”

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