Nokia, Ericsson profits slump

Discussion in 'Stocks' started by ASusilovic, Jul 16, 2009.

  1. Nokia posts 66% drop in second-quarter profit

    Sony Ericsson swings to a loss as sales plunge 40%

    LONDON (MarketWatch) -- Shares of Nokia Corp. fell nearly 10% on Thursday after it posted a 66% drop in second-quarter profit, said it no longer expects to gain market share in the second half and dropped its profitability target at the key phone unit.

    For the three months to June 30 net profit attributable to equity holders fell to 380 million euros ($535 million), or 0.10 euro a share, from 1.1 billion euros, or 0.29 euro a share, earned in the year-earlier period.


    Nokia blamed the lower year-on-year volumes on "weaker consumer and corporate spending, constrained credit availability and currency-market volatility.