Nokia to see drop in Q3 profits, sales

Nokia is expected to see its sales and profits dip when it reports its third quarter results on Thursday, according to analysts.

Sales for the world's largest handset maker are expected to drop 2 percent, to $17.4 billion, down from $17.59 billion in the third quarter of 2007. Nokia is also expected to have shipped 119 million units, up 6.5 percent from the year-ago quarter, but down 2 percent sequentially.

In September, Helsinki-based Nokia announced that because of increased competition, its decision not to cut prices to match rivals and its slower-than-expected release of a mid-range device, it expected its market share to drop below 40 percent. 

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