Finnish mobile phone maker Nokia reported today that its profits have fallen 40 per cent over the last three months compared with the second quarter of 2009.
The firm said its underlying profits were down 27 per cent as it cut the cost of handsets, presumably in an attempt to compete with other smart phones like the iPhone and Blackberry. Its sales were actually up slightly to £10bn – one per cent rise – but profits fell to £223m. Nokia CEO Olli-Pekka…
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