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BRIEFING: Nokia prepared for smartphone battle
Nokia has released its Q4 earnings report, posting a loss for its third successive quarter as smartphone sales and revenues drop by a third. This comes despite a backdrop of growth in the wider mobile market, with smartphone adoption increasing rapidly in mature markets such as the US and UK, where penetration is almost at 50%. The latest figures highlight Nokia’s spectacular fall from grace following its failure not only to realise the impact that Apple’s iPhone would have on the mobile market but to adapt to that threat once it become clear. It now finds itself behind both Apple and Samsung in terms of smartphone shipments and its profit margin is slipping in a market that has proved hugely lucrative for the iPhone manufacturer.
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