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Business

Siemens Mobile Phone Sales Jump 20 percent

The world's fourth largest mobile phone company, Siemens AG, reported it expects unit sales to rise up to 20 percent this year. The company said sales of up to 39 million units in this fiscal year ending September were likely. Shares have risen as much as 2.1 percent to €57.27 and company stock has grown by 40 percent this year. Siemens spokesman Axel Schafmeister said customer demand has rebounded since the introduction of 30 new models since October, including a line of "fashion phones" as well as a miniature SL55 model. "We're having trouble producing our new models fast enough because customer demand is so high," spokesman Schafmeister told Bloomberg.