Nokia double profits last year but still suffers in the “smartphone”

The world’s largest manufacturer of handsets, Nokia 2010 recorded a profit of 1.85 billion euros, compared to 891 million euros in 2009, but the company continues to suffer in the smartphone segment market share being reduced in the fourth quarter of last year from 38 to 31%, writes Reuters.

Finnish group sales climbed 4% to 42.4 billion euros, amid market recovery after the toppling of two years earlier.

The company notes that the position of the market has been affected by increased competition. Also, shipments were adversely affected in the second half of 2010 the absence of certain components. The problem acelee┼či Nokia expects to face at least until the end of this year.

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