Nokia, the world's leading maker of mobile phones, saw the value of its mobile phone sales shrink 5% to €5.5 billion in its first quarter as it sold more cheaper phones in developing markets such as China and India.
Nokia said its net profit slipped by 7% in the first quarter due to restructuring costs. Net profit dipped to €979m from €1 billion a year earlier.
Overall sales rose 4% from €9.5 to €9.8 billion during the period, and the Finnish company said its share of the global mobile phone market had risen 1% to 36%.
Nokia sold 91.1 million phones during the quarter, a rise of 21% from a year earlier, out of a total of 253 million phones sold worldwide from January to March.
