Nokia's 2Q Profit Drops 61%
Jul 18, 2008
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Nokia Corp. said profit fell 61% in the 2Q 2008 from the same period a year ago. The company slightly upgraded its forecast for the global handset market in 2008, and said it expected to keep growing its slice of the pie. Nokia's profit was US$1.75 billion, down from $4.49 billion a year earlier. Sales rose 4% to $20.87 billion.

In terms of volume, the company had its biggest sales growth in Asia, Latin America, the Middle East and Africa. Sales of Nokia phones were up 10% in North America and flat in Europe.

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