Nokia announces sales slump; N-Gage titles to appear at EIGF

Mobile handset giant Nokia has reported a fall of almost six per cent in its global sales during the second quarter, and dropped its full-year forecasts; while the company plans to showcase its N-Gage range at the Edinburgh Festival next month.

Shares in the Finnish company tumbled by almost 16 per cent on the Helsinki stock exchange after the company reported results for the three months to June 30th which included a 5.7 per cent drop in revenues. Despite the falling revenues, the firm reported that profits grew some 14 per cent in the quarter, and it still holds some 31 per cent of the worldwide mobile market - but earnings are expected to continue to slump through the rest of the year, with the revenue forecast for the current quarter slashed in half.

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