Finnish telecoms giant Nokia has reported that its second-quarter net profit fell 66% from a year earlier to €380m, mainly due to falling handset sales and lower prices.
'Competition remains intense,' chief executive Olli-Pekka Kallasvuo said. 'But demand in the overall mobile device market appears to be bottoming out.'
Its share of the worldwide handset market fell to 38%, down from 40% 12 months earlier, the company said.
Nokia also cut its forecast for second half profitability and 2009 market share at its mobile phone division.
Nokia said its second-half underlying operating profit margin in the phone division would be at the first-half level of 11.3%. It had earlier forecast a second-half margin of 13-19%.
Nokia also cut its forecast for 2009 market share at its phone business, seeing it now on par with last year, compared with an earlier forecast for a rise.
