Leading mobile handset company Nokia has reported a 40% fall in its profits in the second quarter of this year compared to the last year. The mobile making firm has announced its profits of 227 million euros for the three months till June.

The company has expected its profits and sales figures to fall behind the previous forecast because of the heavy demands of smartphone in the market.

The firm Nokia has always struggled to compete with new smartphone releases of the companies like Apple and Google. Because of the smartphone the share price of the company used to swing in a range of 10%.The share were trading 3.6% high till the midday trading.

Nokia shares are not in a certain position and it is facing so many ups and downs, but the previous forecast for its market value did not change and remained at the same.

The company is not able to remark on its growth for the near future. But the company has reported a 1% rise in its revenues and reached to 10 million euros because of an 8% increased sale of the mobile devices.