Nokias profit plummets 90%

Nokia, the mobile phone maker, has posted a 90% drop in first quarter profit, as the telecommunications industry continues to be hit by the global economic downturn.

Net profits fell to €122m (£108m) during the quarter, which is a marked decline from the €1.2bn (£1.06bn) it reported in the same period last year.

Sales also fell by 27% to €9.28bn (£8.2bn), compared to €12.7bn (£11.2bn) a year ago.

In March, Nokia announced plans to axe 1,700 jobs globally. Cuts are being made in sales, marketing and technology management areas.

Nokia chief executive Olli-Pekka Kallasvuo says: “In what has been an exceptionally tough environment, we continue to invest in a focused manner in consumer internet services delivered across our broad portfolio of mobile devices.”

The mobile phone maker is currently undertaking a review of its global media planning and buying business. MediaCom is currently the incumbent for Nokia’s European, Asian and US accounts.

Latest from Marketing Week


Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now


Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.


From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.


Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3703 or email

If you are looking for our Jobs site, please click here