Nokia loose profits As Global Market Share Rises
It’s kind of a bitter-sweet announcement - Nokia saw its global market share for mobile phones increase to 36% (up from 35%), while at the same time experiencing a 7% decline in global profits. Nokia sold 979 million Euros worth of cell phone, down from 1.0 billion Euros worth of sales in the previous year. The slip in Nokia’s profits can be associated with “one-off costs and falling prices for its mobile phones.”
So, in all, Nokia is in a good position. The profit slide is reasonable and the Finnish handset giant is creeping upwards in their market share - even as Symbian OS is losing ground to Linux and Windows Mobile and the global slowdown of mobile phone sales.
