Nokia quarterly profits down 40%

Posted on July 23, 2010 by

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Poor old Nokia hasn’t been having the best time of late. Nokia, the world’s largest mobile phone manufacturer is being beaten out of the smartphone market by Apple and Google; who are  not only happy to dominate other technological spheres, they also muscled in on the mobile market and stole the show!

In spite of Nokia being the global powerhouse of years gone by, their smartphones have failed to shake up the market. Nokia’s limited presence in the app space has done nothing to improve matters.

Engadget have reported that Nokia’s net profit for Q2 was €221 million. Certainly not a figure to sniff at, so why do we need to get the tiny violins out for the mobile giant? Because this sum is significantly smaller than the profits made in the same quarter last year- a whopping €380 million. 40%  smaller!

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