Nokia Booms In The Developing World

Nokia’s ‘entry level’ phones that have cost less than 30 euros ($43) have helped its profit surged 85 percent in the third quarter as strong demand for low-cost phones in Africa, the Middle East and Asia lifted its share of the market to 39 percent, the NY Times reports:

Market share rose from 36 percent in the previous quarter as consumers in all regions except North and South America bought increasing numbers of entry-level phones costing less than 30 euros ($43)… Analysts said Nokia’s ability to make inexpensive cellphones at factories in China and India profitably would help the company build on its already sizable lead over its challengers — Motorola, Samsung and Sony Ericsson — whose combined market share barely equals that of Nokia.

Earnings Soar at Nokia on Third World Demand – New York Times