HELSINKI, Finland (AP) — Shares in Nokia, the world’s largest maker of mobile phones, plunged more than 13.5 percent on Thursday after the company downgraded its forecast for the global handset market and posted lower-than-expected first-quarter earnings.
Nokia reported a net profit of $1.9 billion in the first three months of the year, 25 percent more than the $1.6 billion of the period in 2007 but below analysts’ forecasts.
Revenue grew 28 percent, to $20 billion, from $15.6 billion a year earlier, with strong growth of handset sales in Asia, the Middle East and Africa.
The markets were expecting a better result, and Nokia stock closed down $4.74, or 14 percent, to $28.95 on the New York Stock Exchange.
The company, based in Espoo, Finland, said its market share slipped to 39 percent in the first quarter this year, from 40 percent in the October-to-December quarter. But it sold 115 million mobile devices in the first quarter, up 27 percent from a year earlier, and its market share was three points higher than in the first quarter a year ago.
Nokia’s strongest growth in mobile phone sales was in the Asia-Pacific region, which for the first time overtook Europe as the company’s biggest market. It sold 34 million units in the region, accounting for more than a third of the company’s mobile phone sales.
But selling cheaper handsets in emerging markets continued to push down the closely watched average selling price of Nokia’s mobile devices. It fell to $125 in the period, from $132 in the previous quarter and $141 in the first quarter last year.
In a recent conclusion of a hacking contest, Apple finally responded to fix a significant flaw in its Safari web browser. Apple saw Charlie Miller of Independent Security Evaluators emerge as a top finisher in the "PWN to 0WN" contest to bag $10,000 just by hacking a fully updated MacBook Air running OSX 10.5.2. The hacking contest held at the CanSecWest security conference had been an annual event for computer operating systems to test their security and vulnerability against hackers of all kind.
Just earlier this week, I'm very happy to open my email when I saw that Smorty confirmed my application. For those who still doesn't know what Smorty is, it's a website where advertisers engage in blog advertising while bloggers like us get paid for blogging, as simple as that. Advertisers look for qualified bloggers and Smorty works kind of a middle man in this such business.
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Buy A Brand New Laptop
Buy A Secondhand Car
This is my personal choice. My good friend, who's an automobile enthusiast, have been an talking all day and night about cars, cars, and more cars. So I ask him how much a secondhand car would cost and he said P150K is already a good price. He have given me a website where the business of buy-and-sell of cars happens: tsikot.com. Let's go and check it out.
Deposit In A Bank
There are still people who think of future much as they think of the present. For me, I think this is still a very good choice, you got to save your money and use it for future expenses, not to mention important future expenses.
There you have it, end of the poll. Thank you to all who participated.