Nokia's Sales, Profit and Market Share Drop

From PC World: Nokia reported fourth-quarter sales down about 19 percent year on year. The company sold fewer phones than a year earlier, and its market share also dropped, it said Thursday.

Sales for the last three months of 2008 totalled €12.7 billion (US$17.9 billion as of Dec. 31, the last day of the period reported), lower than analysts had expected.

The economy has continued to worsen, and that has affected the mobile industry, according to Nokia.

Nokia is still making money, but a lot less than it did a year ago. The company reported a net profit at €576 million, compared to €1.8 billion a year earlier.

The company sold 113.1 million phones during the fourth quarter, 15 percent fewer than it sold a year earlier, and also lower than the 117.8 million it sold during the third quarter.

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