Nokia Q1 results beat all expectations

Reuters.com reports that Nokia's earnings and sales were "above expectations, boosted by strong demand for handsets around the world." Nokia said its market share grew, and "while many Nokia phones were sold in markets like Latin America, China and the Middle East and Africa -- where consumers usually buy less expensive phones -- it said it had also sold an increasing proportion of more expensive models."

According to the article, "First-quarter sales rose to 9.5 billion euros ($11.7 billion) from 7.4 billion a year earlier." The comapny "benefited in the first quarter from strong sales of its N-series multimedia phones, such as the N70 model, the top revenue generator for the company in the quarter."

Nokia said it sold 75.1 million phones in the quarter, 40 percent more than a year ago, and said its market share rose to 35 percent.

Nomura analyst Richard Windsor said, "When Nokia has a bad year you can see it from Q1, so because they've produced a good Q1 it is a good omen for the rest of the year."

Average selling prices of Nokia handsets were "103 euros in the first three months -- the highest level in three quarters -- but that price is still 6 percent down from 110 euros in the same period a year ago."