On Thursday, Nokia corp. announced its Q2 results. The net profit in the the second quarter was 40% less when compared to its last years Q2 profit. Q2 profit was Euro 227 million i.e, is around $290 million. But Nokia corp has said that the market share in the smartphone sector remained at 41% which has not chamfed from the previous year.

Even though Apple inc. is giving a strong competition against Nokia, Nokia corp still holds the record of 24 million smartphones which has been sold globally. Still Nokia remains the global leader in the mobile market as it has sold 432 million devices which doesnt tally even if we combine the smartphones sold by its 3 closest rivals.

The reason behind the profit fall is due to less sales in North America which dropped by 19% and also due to the European financial crisis which resulted in lesser currency conversion. Currently, Nokia Corp owns 1,29,000 employees world-wide.