NokiaTops Apple Now World’s Leads Smartphone Vendor

Apple Tops NokiaBy Tarmo Virki, European Technology Correspondent
Apple Tops Nokia, Now World’s Leading Smartphone Vendor

Nokia, the world’s largest phone maker by volume, has failed to come up with an attractive smartphone offering to compete with Apple’s iPhone and a wide array of smartphones using Google’s Android software.

Nokia reported a second-quarter underlying operating profit of 391 million euros ($555.1 million), above all analysts’ forecasts, which ranged from a loss of 35 million to profit of 285 million in a Reuters poll, boosted by royalty revenues of 430 million euros in the quarter.

Nokia had forecast a 150 million royalty boost in April, and analysts said most of the remaining 280 million likely came from settling a legal dispute with Apple.

The report was a rare spot of good news for Nokia, pushing its shares up 2.9 percent to 4.20 euros by 1235 GMT. They briefly rose as high as 4.396.

The share price had halved since February when it unveiled a shift to Microsoft software, as investors worried that the company would lose so much market share before the new phones come out that it might never make up lost ground.

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