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Nokia Sees Handset Demand Stabilizing; Shares Jump

in News on April 16, 2009 at 9:08 am PT

Nokia shares are headed sharply higher this morning after the company indicated the worst may be over for the mobile phone business. For the first quarter, the company posted revenue of 9.276 billion Euros, down 26.7 percent year over year, and 26.8 percent sequentially. Revenues from the device business were down 33.4 percent year over year, and 24.2 percent from Q4.