Bank Of Baku

Nokia reports profit downswing

Nokia reports profit downswing
# 22 January 2009 14:17 (UTC +04:00)
Nokia Oyj, the world’s biggest mobile-phone maker, said fourth-quarter profit slumped more than analysts anticipated as the global economic slowdown made customers more hesitant to replace handsets, Bloomberg reported.
Net income fell to 576 million euros from 1.84 billion a year earlier the Espoo, Finland-based company said today in a statement. Revenue declined 20 percent to 12.7 billion euros. Analysts had anticipated profit of 975 million euros on sales of 13.1 billion euros.
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