Nokia announces sales slump; titles at EIGF
Revenues down 5.7 per cent in June quarter, shares tumble despite rising profits.
Mobile handset giant Nokia has reported a fall of almost six per cent in its global sales during the second quarter, and dropped its full-year forecasts; while the company plans to showcase its N-Gage range at the Edinburgh Festival next month.
Shares in the Finnish company tumbled by almost 16 per cent on the Helsinki stock exchange after the company reported results for the three months to June 30th which included a 5.7 per cent drop in revenues.
Despite the falling revenues, the firm reported that profits grew some 14 per cent in the quarter, and it still holds some 31 per cent of the worldwide mobile market - but earnings are expected to continue to slump through the rest of the year, with the revenue forecast for the current quarter slashed in half.
On a more positive note for the company, it today announced its intention to showcase the software line-up for the N-Gage platform at the Edinburgh International Games Festival in Scotland next month, as part of the Go Play Games exhibition at the Edinburgh Royal Museum.
The exhibition, which will run from the 8th to the 22nd of August, will include a number of pre-release titles for the platform such as Crash Nitro Kart, Tom Clancy's Ghost Recon - Jungle Storm and Operation Shadow, as well as the first ever consumer event appearance of Sega's mobile massively multiplayer title, Pocket Kingdom: Own The World.