Nokia CFO: Not Complacent Despite Strong Market Share

STOCKHOLM -(Dow Jones)- Nokia isn't resting on its laurels despite improving on its already strong market share, Chief Financial Officer Rick Simonson said Thursday in an interview with Dow Jones Newswires.

"We respect the competition. We have the right amount of paranoia to not get complacent," Simonson said, after the world's dominant mobile phone maker posted a third-quarter net profit rise of 85% to EUR1.56 billion from a year earlier and a global market share of 39%, up one percentage point from last quarter.

Nokia is facing increasing competition in its efforts to move into the lucrative multimedia handset market from rivals Apple, which launched the iPhone mobile phone earlier this year, and Research In Motion, which has seen its Blackberry device become a staple for doing business.

"We have to stay respectful of competitors and we put Apple and RIM on that list," he said.

"We honestly feel the introduction of Apple and the iPhone will be a good stimulus. They have been good to help stimulate innovation."

-By Adam Ewing, Dow Jones Newswires; +46 8 545 130 95; adam.ewing@dowjones.com

(END) Dow Jones Newswires

Posted to the site on 18th October 2007