Nokia profits fall with sales

Second quarter results show slide for Finnish giant...

Second quarter results show slide for Finnish giant...

Nokia released its second quarter results this morning blaming falling handset sales for a 16 per cent fall in profits. Net profit dropped to E830m (£512m), or E0.17 (10p) per share compared to a profit of E984m (£607m), or E0.21 (13p) per share for the same period last year. However, Jorma Ollila, CEO of Nokia, remains upbeat and said in a statement that market growth is expected to pick up next year. He added: "We are in a unique position to build on our strengths." Jorma Ollila is featured in silicon.com's Agenda Setters 2001. For more information, see http://www.silicon.com/agendasetters2001