Nokia earnings down

Nokia has announced dismal earnings for the fourth quarter. It reported its fourth quarter net earnings were down 69%, to Euro 576 million, from Euro 1.84 billion in the same period last year.

Sales were down 19% to Euro 12.66 billion. Phones shipped in the quarter dropped to 113.1 million units, down 15% on the same quarter for the year before, and down 4% sequentially.

The manufacturer also added it believes its market share has dropped form 38%, to 37% in the third quarter. Nokia added it hopes it will be able to maintain that 37% for the first quarter.

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