Nokia continues to crumble

Troubled phone maker Nokia hurtled along its downwards tumble yesterday as it shares sank a further three per cent to a 17 year low. The Finnish company, which once dominated the mobile phone market, has failed to keep up with newer offerings from smartphone giants Apple and Samsung and posted in April a €1.34bn (£1bn) first quarter loss. Its crumbling shares are now at €1.44 – just two per cent of its €65-odd high in 2000. Its market cap has shrivelled to €5.6bn.