Nokia: Competition Hurt Our Earnings

What a difference less than a year makes.

Nine months after reporting impressive fourth-quarter 2007 earnings, Nokia Corp. (NOK) on Thursday came to the table with a 30 percent plunge in profits for 2008’s third quarter. Sales dropped 5.4 percent to $16.5 billion and earnings slid 30.5 percent to $1.5 billion.

Still, the Finland-based mobile phone maker beat its rivals’ third-quarter returns. Despite that victory, though, the company blamed competition for hurting its income.

Share this article: Email, Slashdot, Digg, Del.icio.us, Yahoo!MyWeb, Windows Live Favorites, Furl
Add this article feed to: RSS, My Yahoo, Newsgator, Bloglines

Read Comments [1]