Originally published Thursday, July 22, 2010 at 3:01 PM

Summary Box: Nokia 2Q earnings drop on flat sales

DOWN ARROW: Nokia Corp. posts 40 percent drop in second-quarter net profit as the world's largest mobile phone maker lost market share and sales remained flat.

The Associated Press

DOWN ARROW: Nokia Corp. posts 40 percent drop in second-quarter net profit as the world's largest mobile phone maker lost market share and sales remained flat.

BOTTOM LINE: Earnings fell to euro227 million ($290 million) from euro380 million in the same period last year. Revenue grew a mere 1 percent in the period to euro10 billion from euro9.9 billion a year earlier.

BRIGHT SPOT: Analysts noted that sales of Nokia's smart phones - 24 million - were better than expected. While overall market share slipped to 33 percent from 35 percent a year earlier, Nokia's share in the smart phone sector remained flat at 41 percent.

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