Nokia posts Q2 2008 profit increase, takes 40% market share

There’s no doubt that Nokia (NYSE: NOK) is the largest mobile phone manufacturer in the world. Even in the face of an uncertain financial sector and declining global handset demand, Nokia has managed to increase their net profits in Q2 2008 compared to the year-ago period.

With €1.474 billion in second quarter net profits, compared to €1.393 billion net profit in the same period last year, Nokia has seen its profitable cash flow grow almost 6%. Net sales of handsets were up 4% and market share increased to 40%, globally. Nokia’s market share for Q2 2007 was 38%, and came in at a solid 39% in Q1 2008.

And, to keep the good times rolling, Nokia has announced that it has revised its previous prediction of 10% global mobile phone market growth. The Finnish handset maker now believes that they’ll see 10% “or more” in global handset growth throughout 2008.

[Via: MobileBurn]