Nokia sees net profit plunge 30% in Q3

Nokia sees net profit plunge 30% in Q3

Helsinki: Nokia reported a 30% drop in its third quarter net profit to €1.087 billion ($1.046 billion), amid falling sales and lower prices for its handsets.

Nokia also announced that its market share had fallen to 38% from 39% a year ago.

Chief executive Olli-Pekka Kallasvuo nonetheless remained upbeat.

“With our scale, brand, improving product portfolio and low cost structure, we believe Nokia is well positioned for the current times," he said in the earnings statement.

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