“Nokia, the world’s largest mobile phone manufacturer, missed market expectations this morning as it reported a 30% fall in profits,” Dan Milmo reports for The Guardian.
“The Finnish technology giant said third quarter profits fell by nearly one third to €1.09bn (£850m) from €1.56bn, with sales falling 5% to €12bn,” Milmo reports.
“The results were weaker than expected but analysts reacted positively to the group’s comments on global demand for handsets this year. Nokia said it expected phone volumes to rise by 10.5% to 1.26bn phones in 2008, as sales in emerging markets offset falling demand in western Europe,” Milmo reports.
“Earlier this month, Nokia fought back against Apple and Google with its first touchscreen phone, the 5800 XpressMusic – a response to Apple’s iPhone and the new G1 device which uses Google’s Android platform,” Milmo reports.
Full article here.
[Thanks to MacDailyNews Reader “Tom H.” for the heads up.]