Russian market boosts operating profit of Nokia Tire in 2011

Nokia's Noki Tyres announced its 2011 sales of 1.457 billion euros (1.927 billion US dollars), an increase of 37.7%, Nokia's tire sales in 2010 was 1.058 billion euros (about 1.4 billion US dollars).

In 2011, Nokia Tire's operating profit was 380 million euros (about 500 million US dollars), which jumped 71.1% year-on-year, accounting for 26.1% of sales; operating profit in 2010 was 222 million euros (about 300 million US dollars), accounting for sales 21.0%.

Nokia Tire’s CEO stated that Nokia Tire’s sales in all major regional markets have grown in 2011, with the growth rate particularly strong in the Russian market, mainly due to the increase in sales of new cars in Russia which contributed to the increase in tire sales in 2011. In 2011, new car sales in Russia increased by 39% year-on-year.

year 2011. Nokia Tire's sales in Russia and the CIS countries accounted for 27% of its global sales, and it sold a total of nearly 36 million passenger cars and truck tires to the Russian market.