Nokia Reports Weak Q4 Earnings, Reshuffles Board Of Directors
Nokia, the world’s largest mobile phone maker by volume, this morning reported another profit fall, its third in a row. Net earnings dropped 21 percent in the fourth quarter, from 948 million euros in the fourth quarter of 2009 to 745 million euros in Q4 2010.
Nokia said its estimated market share shrunk to 31 percent in the fourth quarter of last year, down from 35 percent a year before. The silver lining: market share actually went up one percent compared to the third quarter of 2010. Sales came in at 12.7 billion euros.
In a separate release, Nokia announced a reshuffle in its board of directors.
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