Nokia’s profits drop

22/07/10 18:50 CET

corporate

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Nokia’s second-quarter net profit fell 40 percent as it lost market share and sales stayed flat

The world’s largest mobile phone maker also forecast the current quarter will be weak.

However sales of smart phones were better than expected.

The poor figures increase the pressure on embattled chief executive Olli-Pekka Kallasvuo.

In interviews Kallasvuo said talk of his being ousted is hurting the company and has to stop.

“There has been a lot of speculation on my position, on myself, during the last couple of weeks and that is not good for Nokia and must be brought to an end one way or another,” he said.

Kallasvuo declined to comment on whether he still enjoys board support.

“I might have it, I might have it not. It’s a ‘no comment’,” he told Finnish broadcaster YLE.

More about: Mobile Telephony, Technology, Telecommunication

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