The share price of Nokia took a hit today (April 18th) after the mobile phone manufacturer confirmed its sales have fallen.
Despite strong performance for its flagship Lumia device, total sales of mobile phones fell 30 per cent to 1.59 billion euros (£1.36 billion).
The Lumia helped to prop up the company during the first quarter of the year, with sales of the handsets up by 27 per cent between January and March.
Shares in the firm dropped by as much as 13 per cent in trading in the wake of the news its sales have been falling in recent months.
Hakan Wranne, analyst at Swedbank, said: "The shortfall is in the cheaper mobile phone side, where both volumes and average selling prices came lower than expected."
It was suggested the market's profit estimates for 2014 could now be set to come down.
At 16:01 BST today, the share price of the mobile phone manufacturer was down 7.67 per cent on the start of the day's trading.
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