“Nokia’s earnings fell 66 percent in the second quarter as the global recession sapped demand for handsets, the biggest cellphone maker said yesterday,” Karl Ritter Stockholm reports for Business Report.
MacDailyNews Take: Apple doesn’t seem to be having any problems with demand for their “handsets.”
Stockholm continues, “Net profit was e380 million (R4.4 billion), down from e1.1bn in the same period a year earlier. Sales tumbled 25 percent to e9.91bn. After the report, Nokia shares fell 8.1 percent to e10.20 in Helsinki.”
“Cellphone sales have fallen sharply in the economic slump,” Stockholm reports. “Global shipments fell 13 percent to 245 million units in the first quarter, the sharpest annual decline since the cellphone industry started in the 1980s, according to research firm Strategy Analytics.”
MacDailyNews Take: Apple doesn’t seem to be having any problems selling their “cellphones.”
Stockholm continues, “Nokia repeated its forecast that the global handset market would decline 10 percent this year. A drop in cellphone sales at the end of last year blocked shipments as companies sold their excess inventory.”
Full article here.
MacDailyNews Take: The bloodbath continues unabated. Lead, follow, or get run over by Apple.