HELSINKI (Finland) - THE world's top mobile phone maker Nokia reported a 40-per cent plunge in second-quarter net profit on Thursday to 227 million euros (S$400.13 million) but maintained its earnings forecast for its key devices and services unit.
The Finnish company had slashed its second-quarter and full-year forecasts for its key devices and services unit last month, citing fierce competition.
From April to June, Nokia posted a net profit of 227 million euros , down 40 per cent from 380 million euros for the same quarter a year earlier.
Analyst expected a profit drop of 30 per cent, according to estimates published in the Finnish press.
Nokia said its net sales were up 1.0 per cent on a year-to-year basis to 10.0 billion euros, and that the sales in its devices and services unit were up 3.0 per cent on a year-to-year basis, but down 2.0 year-to-year in constant currency.
Shares in company, which had recently plunged to their lowest level in 12 years, were up 1.43 per cent to 7.09 euros on a Helsinki Stock Exchange up 0.9 per cent shortly after the announcement. -- AFP
