April 16, 2009
Nokia Profit Drops 90% in the First Quarter
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Nokia is the world's largest mobile phone maker in the world but in the first quarter 2009, Nokia reported a 90% fall in profits. To strike back the loss, Nokia has announced 1,700 job cuts last month. Of course during this world economic downturn, many mobile phone makers has announced their drop. Sales dropped from $16.7 billion last year to $12.2 billion in Q1. However Nokia still be on the top of the world mobile phone market which is 37% from 39%. What will Nokia do to react again this big loss.
[BBC]
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