The world's largest mobile phone producer Nokia said Thursday that its operating profit dropped 21 percent in the third quarter of this year due to a higher proportion of lower priced products and the impact of a weaker U.S. dollar.
Nokia's Q3 net sales dropped 5 percent to 12.2 billion euros (16.4 billion U.S. dollars), compared with 12.9 billion euros (17.3 billion dollars) in the same period in 2007, Nokia said in a statement on its website.
Its Q3 operating profit stood at 1.46 billion euros (1.96 billion dollars), while the figure was 1.86 billion euros (2.49 billion dollars) for the corresponding business period 2007.
Nokia estimated that its mobile device market share for the third quarter of 2008 was 38 percent, compared with 39 percent in the third quarter of last year and 40 percent in the second quarter of 2008.
It expected the global mobile phone market to grow in the fourth quarter, while Nokia's share would remain steady or go slightly up.
The drop in sales and operating profit is mainly attributable to a decline of the mobile device average selling price (ASP) in the third quarter of 2008 was 72 euros (96 dollars), 10 euros lower than that of the same period of 2007.
Source: Xinhua
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