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Nokia shakes as profits slip over 50%

But not connecting profits
But not connecting profits

Nokia has followed the mobile phone crowd with reports that its operating profits have slid a worrying 50 per cent in Q4.

Year on year, the company has seen a slip to €1.2 billion (£1.13 billion) in operating sales, meaning that even the market leader isn't immune to the economic slowdown.

2009 isn't expected to fare much better for Nokia, with an expected 10 per cent drop in mobile phone sales predicted, with most of that coming in the first half of the year.

Down, down, down

Market share has also dipped (some news just goes from bad to worse, eh?) with its previously unassailable 46 per cent share down to just 36 per cent after the likes of Samsung and LG made up some serious ground.

However, if you look at 2008 as a whole, things aren't as grim for Nokia, especially as it enjoyed a particularly buoyant first few months. Overall it scrubbed just one per cent off its net sales, and eight per cent off its operating profit.

It's also worth noting that the cash-hungry saga with Qualcomm was settled this year too, resulting in a €1.7 billion (£1.6 billion) payout from Nokia, meaning an overall negative flow of €0.3 billion (£0.28 billion).