Nokia profits up 65 percent to euro948 million in fourth quarter despite slump in sales

Nokia posts euro948 million net profit in Q4

HELSINKI — The world’s top mobile phone maker, Nokia Corp., says net profit grew 65 percent in the fourth quarter to euro948 million despite falling sales.

The profit was up from euro576 million in the last quarter of 2008.

Net sales in the last three months of 2009 dropped 5.3 percent to euro12.0 billion, down from euro12.7 billion in the same period a year earlier.

Nokia CEO Olli-Pekka Kaalsvuo says Nokia grew its market share in smartphones, driven by the launch of new models.