|
Nokia Oyj (NOK1V.HE) has reported a much steeper decline in their fourth-quarter profit than analysts had first estimated. Nokia, the world's biggest mobile-phone maker has said that industry sales could drop by as low as 10 percent this year. Nokia's net income fell to 576 million Euros ($749 billion) that accounts to 15 cents per share, which is from 1.84 billion, or 47 cents, a year earlier. Total revenue fell to 20 percent to 12.7 billion Euros, it had been estimated by analysts that it would be 975 million Euros on sales of 13.1 billion Euros. 2008 was not a great year for most cell phone makers; Nokia sold 15 percent fewer handsets than in the last quarter of the year before. Nokia had predicted a 5 percent drop, so this extra 10 percent came as a shock; it seems that this current economic slump has forced consumers to stop buying new phones. |
0 comments:
Post a Comment