Tuesday, April 11, 2006

Nokia Increases 1Q Average Selling Price

HELSINKI, Finland -- Nokia Corp. upped an estimate Tuesday for the average selling price of its handsets to $125 in the first quarter, sending its stock up 5 percent in Helsinki.

Nokia had earlier predicted the average selling price -- a much-watched figure in the industry -- would be the same as, or slightly less than, the $120 price in the last quarter of 2005.

In a statement, the world's largest mobile phone maker said its lower-priced, entry-level products made up a lower-than-expected proportion of sales during the quarter, meaning relatively more people were buying higher-end devices.

On the Helsinki Stock Exchange, Nokia's share price jumped 5 percent to $21.55.

Last month, Nokia raised its estimate for growth in the global mobile device market to 915 million, or 15 percent over 2005, saying most of the increase in sales will be in the emerging markets of Asia and Africa.

It did not forecast its own growth or sales for 2006. The Finnish company had earlier predicted a 10 percent global increase in mobile handsets from an estimated 795 million units in 2005.

Nokia, based in Espoo just outside the Finnish capital, has sales in 130 countries and 59,000 employees.

Last year, sales of its mobile devices jumped 28 percent to a record 265 million units.

Copyright © 2006, The Associated Press

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