Nokia reported a 61 per cent drop in net income for the second quarter of fiscal year 2008, down from €2.8bn (£2.2bn) to €1.1bn compared with the same quarter in 2007.
Slow consumer spending on new handsets, declining prices and unfavourable US dollar exchange rates also contributed to the decrease. Also the entry of iPhone to the world market has remained a serious threat to the mobile giant Nokia
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