Nokia Q2 profit falls 40 pct to $290 million

[July 22, 2010]  HELSINKI (AP) -- Nokia Corp. says second-quarter net profit fell 40 percent to euro227 million ($290 million) as sales remained flat.

The world's top mobile phone maker says net profit was down from a net profit of euro380 million in the same period last year. Revenue grew a mere 1 percent in the period to euro10 billion from euro9.9 billion a year earlier, Nokia said Thursday.

Nokia shares fell more than 1 percent to euro6.90 ($8.84) in afternoon trading in Helsinki.

The company repeated its prediction that the global mobile market will grow 10 percent this year while its own growth would remain flat.

Nokia said it sold 111 million handsets in the quarter, up 8 percent on 2009.

[Associated Press]

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