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Nokia cuts market share targets as Q2 profits plummet

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Ok Nokia, this is getting serious. The world's largest cellphone maker just announced a 66 percent yearly drop in Q2 profit while lowering its 2009 market share target for its cellphones. Originally, Nokia had expected market share to rise in 2009, presumably based on a successful launch of the N97 flagship device. However, outside of a core group of S60 diehards, the N97 has been universally panned in both reviews and user forums alike. And with nothing but rumors of an Atom-based Nokia netbook on the immediate horizon, well, let's just say that we're suddenly concerned about the health of our friends from Espoo.

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