Nokia Profit Dips 90 Percent In Q1

Some people might still be rather indifferent to the current global economic crisis, probably because they may not understand just how bad it is. If you need some figures to help you comprehend the whole situation, you might want to take note that Nokia’s first quarter earnings of 2009 dropped 90% to EUR 122m ($161m) from EUR 1.22b ($1.61b) for the same quarter back in 2008. Its shares fell to EUR 0.03 per share, which is a steep drop from the previous EUR 0.32 it was commanding in Q1 of 2008. Profits from sales fell 27% to EUR 9.3b ($12.3b) in Q1, as compared to EUS 12.7b ($16.7b) for the same period in 2008. It was also reported that the company sold 93.2 million units, which is a 19% drop from last year. Do you still think that the economy is rosy?