Nokia Gets Hit Hard in Q3
Sometime in September, Nokia announced that market share would fall in the third quarter, causing a virtual stock landslide (-11%). Well, the results are in, and yes, market share did fall, along with almost every other metric in the book. But Nokia stock still ended on a high note - some 9.6% higher than the previous day’s close.
The highlights:
- Profit fell 30 percent, from 1.56 billion euros in 2007 to 1.09 billion euros. Of course, that’s still $2.7 billion US dollars banked in the quarter, but a far cry from last year.
- Market share dropped to 38% - it was previously 40% in Q2.
- 118 million handsets were sold in the third quarter. Up from 112 million handsets last year but down from last quarter (122 million... ... read more (www.nokiaphoneblog.com)