BUSINESS

Nokia Profit Plunges 90% In First Quarter

05/17/2009 05:12 am ET | Updated May 25, 2011

Nokia Corp. on Thursday said its profits plummeted 90 percent in the first quarter as demand for mobile phones continued to weaken amid a slump.

The world's top mobile phone maker said net profit was only euro122 million ($161 million) compared to euro1.2 billion in the same period last year.

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