Nokia announced its profits for the second quarter have plummeted by 61% compared to the same period last year. The fall comes at a time when Nokia estimates handset prices have fallen year on year by over £10, to an average of around £58.
However, the business has increased its market share to 40%, from 39%, and the company is optimistic for sales over the rest of 2008. Chief executive at Nokia, Olli-Pekka Kallasvuo, stated: “Nokia delivered increased device market share and strong underlying profitability in the quarter. Looking at the rest of the year, we are optimistic and have had good feedback about the broad range of new products we expect to sell.”