Nokia in doldrums
Mobile phone maker Nokia Corp posted a loss of 368mil euro in the second quarter and for the first time in history was overtaken by Apple Inc's iPhone in smartphone shipments. Nokia posted a profit of 227mil euro in the same period last year and overall the revenue fell 7% to 9.3bil euro from 10bil euro last year.Nokia shipped 88.5 million mobile devices in April through June, down from 111 million a year ago and 108.5 million in the previous quarter. Its smartphone volumes fell to 16.7 million units, which means Nokia is no longer No 1 in the smartphone sector.According to statistics I have been comparing this morning Apple sold more than 20 million iPhones in the same quarter, lifting its net income to a stronger-than-expected US$7.31billion.In his address, Nokia CEO Stephen Elop said the challenges they are facing during company strategic transformation manifested in a greater than expected way during the quarter. However, even within the quarter, Elop believe Nokia