Nokia profits fall with sales

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