Nokia continued its assault on emerging markets during the third quarter, and the world's No. 1 handset maker struggled with shrinking margins as a result. Despite increasing its sales 20 percent to $12.7 billion and selling 88.5 million handsets in the third quarter, Nokia missed Wall Street's earnings per share estimates by a penny. Earnings per share increased 21 percent to 29 cents a share as sub-$63 handsets made up 40 percent of sales volume. Nokia CEO Olli-Pekka Kallasvuo said Nokia is committed to its continued heavy focus on emerging markets, believing Nokia can continue to grow by capturing incremental increases in volume. Is it a risky strategy given the stiff competition in the emerging markets segment?
For more about Nokia's third quarter:
- read this article from Investor's Business Daily