Nokia stocks down on sales data

<p>Shares in Nokia are down by four per cent.</p>

The share price of Nokia is down today (July 18th) after the mobile phone manufacturer announced its latest sales data.

It was revealed by the firm that it sold 53.7 million mobile phones during the second quarter of the year, with sales of 5.69 billion euros (£4.92 billion) in total.

This was a 24 per cent drop on the same period last year and led to the share price of the firm falling by around four per cent during today's trading.

Nokia's chief executive Stephen Elop stated that the company is proud of the work being done by its Lumia team, despite the latest figures.

But Ben Wood, an analyst at research firm, CCS Insight, told BBC News that it feels as if Nokia is "treading water" when compared to rivals such as Samsung and Apple.

Samsung's flagship S4 smartphone has had disappointing sales so far, with the Korean manufacturer hoping it could compete with the iPhone 5.

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