Nokia has reported record results for its Q4 ended 31 December 1998. Net sales showed a profit of 51% compared to 1997.
Profit before tax showed a growth of 74%, amounting to FIM14.6 billion ($2.8 billion). Globally, the company`s results were far better than those of rivals Ericsson, which showed a 6% increase in income before tax and Motorola, which reported a $1.374 million loss in pre-tax earnings.
"Continued strong growth and excellent profits in the last quarter led to a record year," says Nokia president and CEO Jorma Ollila. "We strengthened our market position in many areas and have every reason to be pleased with the results and performance in our major business."
Ollila says that although future predictions are difficult to make, it is unlikely that last year`s profits will be repeated. Instead, Nokia will strive for a 25% to 35% increase in net sales growth and profitability in 1999.
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