OUCH! Nokia have just released their first quater results for 2009, and there is some bad news. They are down 90% from Q1 2008. That is really not good news. Fortunately for them, there is not just bad news. In this day and age with the recession, many companies are sturggling to keep their heads above the water, but Nokia still managed to turn profits of $160 million.
You might be thinking, but hell that is a nice big ass figure what are they worried about? Well compare this to last year the same period where they pulled in an awesomely huge profit of $1.6 billion. Now you can see what they are talking about! Not surprising though that there sales were down 27% to $12.2 Billion compared to $16.7 Billion the same time last year.
It is no surprise that things have taken such a drop, and almost all companies in the world have put out some ugly figures compared to what they would have liked. Although, there is not much for Nokia to worry about as they still hold a 37% market share.Read More