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THIRD QUARTER 2010 HIGHLIGHTS

- Nokia net sales of EUR 10.3 billion, up 5% year-on-year and 3% sequentially (down 2% and up 1% at constant currency).
- Devices & Services net sales of EUR 7.2 billion, up 4% year-on-year and 6% sequentially (down 5% and up 2% at constant currency).
- Services net sales of EUR 159 million, up 7% year-on-year and 1% sequentially; billings of EUR 325 million, up 89% year-on-year and 10% sequentially.
- Nokia total mobile device volumes of 110.4 million units, up 2% year-on-year and down 1% sequentially.
- Nokia converged mobile device (smartphone and mobile computer) volumes of 26.5 million units, up 61% year-on-year and 10% sequentially.
- Nokia mobile device ASP (including services revenue) of EUR 65, up from EUR 64 in Q3 2009 and EUR 61 in Q2 2010.
- Devices & Services gross margin of 29.0%, down from 30.9% in Q3 2009 and 30.2% in Q2 2010.
- Devices & Services non-IFRS operating margin of 10.5%, down from 11.4% in Q3 2009 and up from 9.5% in Q2 2010.
- NAVTEQ non-IFRS net sales of EUR 252 million, up 52% year-on-year and flat sequentially (up 47% and down 2% at constant currency).
- Nokia Siemens Networks net sales of EUR 2.9 billion, up 7% year-on-year and down 3% sequentially (flat and down 4% at constant currency).
- Nokia Siemens Networks non-IFRS operating margin of -3.9%, down from -1.9% in Q3 2009 and 1.7% in Q2 2010.
- Nokia operating cash flow of EUR 439 million, and cash generated from operations EUR 1 206 million.
- Total cash and other liquid assets of EUR 10.2 billion and net cash and other liquid assets of EUR 4.4 billion, at the end of Q3 2010.
- Nokia taxes continued to be unfavorably impacted by Nokia Siemens Networks taxes as no tax benefits are recognized for certain Nokia Siemens Networks deferred tax items. In Q3 2010, this was more than offset by lower Devices & Services taxes due to dividend withholding tax legislation changes in certain jurisdictions with a one-quarter impact. If Nokia's estimated long-term tax rate of 26% had been applied, non-IFRS Nokia EPS would have been approximately 1.5 Euro cents lower.

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Posted: 2010-10-22 11:49:25
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