• Sweden edition
 
Smartphone sales boost profits for TeliaSonera

Smartphone sales boost profits for TeliaSonera

Published: 25 Oct 2010 11:46 GMT+02:00
Updated: 25 Oct 2010 11:46 GMT+02:00

"Both Mobility Services and Eurasia are seeing accelerated growth compared to previous quarters," CEO Lars Nyberg said in the earnings report.

He said that mobile services were being driven by mobile data and equipment sales and activity in Europe and Asia by "macroeconomic recovery and higher mobile penetration."

The Swedish-Finnish company posted a 19 percent rise in net profit to 5.99 billion kronor ($914 million) on sales which slipped 1 percent to 26.75 billion kronor.

Meanwhile, the company's earnings before interest, tax, depreciation, and amortisation, or EBITDA, soared to the highest level ever, Nyberg said.

TeliaSonera's smartphones helped boost its profits, with soaring sales and surging data traffic in its Nordic home market.

"In the Nordic region, the uptake of smart phones is boosting our mobile data revenues and equipment sales. Today, seven out of ten customers in Sweden are buying a smartphone with higher usage and average revenue per user as a result," Nyberg said.

"The new iPhone 4 has been very well received by our customers and we can now see that other smart phone models based on [Google's] Android and [Nokia's] Symbian platforms are also getting a lot of traction," he added.

Despite the strong figures, the company's results slightly missed the expectations of analysts, who according to a poll by Dow Jones Newswires had anticipated a net profit of 6.16 billion kronor on sales of 26.83 billion.

However, TeliaSonera increased its 2010 forecast, saying it now expected full-year sales to be in line with the first nine months of the year, while its EBITDA margin should be higher than in 2009.

Following the news, the company saw its share price jump 2.71 percent in late morning trading on a slightly positive Stockholm stock exchange.

The company said its customer numbers climb during the third quarter alone by 4.2 million, of whom two million are new clients of TeliaSonera's consolidated operations and 2.2 million have signed on with associated companies, to a total of 156.6 million customers.

Over the past year, it said it had seen its total client lists swell by 12.8 million.

Like its main Nordic rivals, Norway's Telenor and Sweden's Tele2, TeliaSonera's strategy is to expand towards the East, increasing its presence in the Baltic countries, Russia and Turkey, as well as former Soviet republics such as Kazakhstan, Azerbaijan, Uzbekistan and Georgia.

AFP/The Local (news@thelocal.se)

Don't miss...X
Left Right

Your comments about this article

Today's headlines
Green Party ranked 'most gay friendly' in Sweden

Green Party ranked 'most gay friendly' in Sweden

The Green Party's views are 88.6 percent "LGBT-friendly", a Swedish LGBT rights group determined on Monday, making the Greens the most gay-friendly of all Sweden's parliamentary parties. READ  

Man held on suspicion of murdering wife
Police on the scene. Photo: Johan Nilsson/TT

Man held on suspicion of murdering wife

Updated: Police arrested a man in Copenhagen on the suspicion of killing his wife, whose body was found at the couple's home in southern Sweden during the weekend. READ  

Arlanda, Stockholm
Lightning bolt grounds flight to New York

Lightning bolt grounds flight to New York

Swedes bound for New York learned on Monday morning that their plane had been cancelled after it was hit by lightning during Sunday's thunderstorm. READ  

Elderly Swedish man stripped of his 35 cats

Elderly Swedish man stripped of his 35 cats

The County Administrative Board of Skåne has decided to confiscate the 35 cats of an 81-year-old man who was forbidden from having more than nine of the furry felines. READ  

Wild weather set to strike Sweden anew
Photo: TT

Wild weather set to strike Sweden anew

With Sunday's thunderstorm reported as the worst of the year so far, Sweden is bracing for round two on Monday as meteorologists predict more of the same. READ  

Swedish suicide rates hit 25-year high

Swedish suicide rates hit 25-year high

Last year 1,600 people in Sweden took their own lives - the highest number since 1989. READ  

Thunderstorms replace Swedish heatwave
The Viking Lines ferry pictured was ripped away from the dock as a result of the storm. Per Gustavsson / TT

Thunderstorms replace Swedish heatwave

UPDATED: The Swedish summer was brought to a halt on Sunday as thunderstorms caused chaos in Stockholm with further inclement weather forecast for the week ahead. READ  

Gaza crisis delaying case of murdered child
Protesters gather in Malmö for a pro-Gaza demonstration on July 26th 2014. Stig-Åke Jönsson / TT

Gaza crisis delaying case of murdered child

The ongoing conflict in the middle east is delaying the investigation into the death of an 8-year-old girl who was found dead in Sweden in May. Meanwhile, over a 1,000 people attended a pro-Gaza march in Malmö. READ  

Politician reported for selling 'negro ball'
A selection of Swedish chocolate balls. Leif R Jansson/TT

Politician reported for selling 'negro ball'

UPDATED: The Afro-Swedish national association has reported Swedish politician Eva Sidekrans to the police for selling chocolate balls labelled as "old fashioned unprejudiced negro ball" saying it incites racial hatred. She has since apologized. READ  

'Dead' Swede's damages claim killed off

'Dead' Swede's damages claim killed off

A 36-year-old woman in central Sweden who was listed as deceased by the tax office has lost her claim for damages after the Chancellor of Justice rejected her demand for compensation. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Gallery
People-watching, June 26th - 28th. Get inside Stockholm's hottest nightclubs
Gallery
Top ten Swedish taboos
Society
Seven-year-old Swede cycles to Berlin
Politics
'Gaza conflict needs help, not empty rhetoric'
Society
Swedes voted 'most beautiful' in the Nordics
Blog updates

27 July

Approaching Stockholm (Around Sweden in a kayak) »

"I woke up in the comfort of my own little cabin on Eva and Rolf’s boat, it was 7:30am and I was feeling a bit groggy after a couple of beers with all the lovely locals the night before. The previous day had really taken its toll on my body and I was very stiff and..." READ »

 

24 July

Sharing our Pride: Celebrating Love & the LGBT Community! (Stockholm in my American Heart) »

"It’s mid- July in Stockholm, and with much of the city on vacation, things can seem a little quiet – the streets, the bus, and the grocery store. One thing that has not paused for a summer break, though, is preparation for Stockholm’s Pride Festival, which will take place from July 28 to August 2...." READ »

 
 
 
Business & Money
Sweden demands EU clarity on Bitcoin tax
National
Swedish organic sales enjoy 'amazing' growth
Photo: Johan Nilsson/TT
Society
What's On in Sweden
Gallery
People-watching July 23
National
Swedish cops elect not to shoot 'angry elks'
Business & Money
New alcohol retail rules threaten micro-breweries
Gallery
People-watching Båstad
Business & Money
Sweden falls to third in global innovation index
Society
Swedish ornithologists keep webcam watch
Photo: Andreas Nordström/Image Bank Sweden
Gallery
Top ten Swedish beach hot spots
Tech
Swedish Wiki vet sets new content record
Photo: Fastighetsbyrån
Lifestyle
In Pictures: The Local's Property of the Week
Photo: Finest.se
Gallery
People-watching July 15-16
Photo: Ola Ericson/Image Bank Sweden
Society
What's On in Sweden
Photo: Lisa Mikulski
National
Hope springs eternal for expat pet shop owner
Gallery
Princess Estelle steals limelight at mum's birthday
National
Swedes risk infants' lives by covering up prams
National
Swede runs for office just using Bitcoin funds
Sponsored Article
Introducing... Your finances in Stockholm
Sponsored Article
Introducing... Housing in Stockholm
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

738
jobs available
Swedish Down Town Consulting & Productions
Swedish Down Town Consulting & Productions is an innovative business company which provides valuable assistance with the Swedish Authorities, Swedish language practice and general communications. Call 073-100 47 81 or visit:
www.swedishdowntown.com
If you want to drink, that’s your business.
If you want to stop, we can help.

Learn more about English-language Alcoholics Anonymous in Sweden. No dues. No fees. Confidentiality assured.
AA-EUROPE.ORG/SWEDEN
PSD Media
PSD Media is marketing company that offers innovative solutions for online retailers. We provide modern solutions that help increase traffic and raise conversion. Visit our site at:
http://psdmedia.se