Nokia's earnings to show drop in demand

Nokia is expected to report weaker fourth quarter earnings and sales Thursday as global demand for handsets has dropped amid the economic recession. 

The world's largest handset maker is expected to report earnings down 47 percent from last year. The company is also expected to report sales of around $16.8 billion, down 14 percent from the fourth quarter of 2007.

In December, Nokia issued a profit warning for the quarter, which itself had been revised down from a previously weak estimate. At the time, Nokia said it expects growth to slow in 2009, with the market contracting 5 percent from its 2008 levels. 

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