Nokia profits dive

City A.M. Reporter
Nokia Oyj reported a 73 per cent fall in fourth-quarter earnings as sales of its new Windows Phones failed to dent the dominance of Apple's iPhone or compensate for diving sales of its own old smartphones.

The world's largest cellphone maker by volume last February unveiled a major strategy shift to Microsoft Corp software for its smartphones in an attempt to challenge Apple and Google Inc's Android. But Apple's phones in particular have proved far more popular.

Apple reported earlier this week sales of 37m iPhones for the December quarter. Nokia has sold over a million Windows Phones since its launch in mid-November.