Nokia Q3 2010 results beats expectations, smartphones sales at 26.5m

Nokia's smartphone sales

“Nokia has released their Q3 2010 results, reporting an operating profit of €529 million, with net sales of €10.3 billion. Nokia’s device and service division’s profits were €807 million, up 3% year on year. Margins in devices and services were 10.5% (down 0.9% YoY and up 0.9% QoQ). The figures beat market expectations. Converged devices sales (smartphones) were significantly up, at 26.5 million, compared with 16.4 million units in Q3 2009 (up 61% YoY) and compared with 24 million units in Q2 2010 (up 10%, QoQ). Worldwide smartphone market share was 38%, down 3% sequentially but up 2% year on year. Nokia, with its Q3 results, has beaten market expectations. For example analysts predicted a figure of €0.10 EPS, against a reported figure of €0.14 EPS. Margins in the crucial Devices and Services division were also ahead of expectations and consequently Nokia’s share price is trading 7% up.” Read more here: