A doubling in sales of its mobile phones helped boost Nokia's fourth fiscal quarter by a hefty 66 per cent.
Net profit for the quarter ended 31 December reached FIM3.4 billion ($690 million), compared with FIM2 billion last year. Revenue increased 63 per cent to FIM25.9 billion.
For Nokia's full fiscal year, revenue leapt 51 per cent to FIM79.2 billion. with earnings per share reaching FIM17.6. Earnings per share for the quarter was FIM6.09.
Said Nokia president and chief executive officer, Jorma Ollila: "In 1998, a total of 58 per cent of our sales orginated from Europe, 21 per cent from the Americas and 21 from Asia Pacific. Nokia continued to be the preferred choice of many new operators, as well as existing customers expanding their networks."
The largest revenue growth came from its mobile phones division whose sales increased 114 per cent. Nokia manufactured its 100 millionth handset in early December.
Continued Ollila: "We estimate that the number of mobile phones sold during 1998 was approximately 163 million. Nokia's total phone sales volume for the year was 40.8 million."
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