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Saturday, January 24, 2009

Nokia market share and profits decline alarmingly

The world's largest mobile handset maker Nokia has suffered a devastating drop in earnings and market share in the fourth quarter of 2008, blaming its dismal set of figures on the global downturn.

The average sales prices of mobile phones keeps on declining, Nokia believes. This is primarily reflecting the increasing impact of the emerging markets and competitive factors in general.


The explanation given by the company for Nokia's poor final quarter largely hinged on the global economic downturn.

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