Nokia shares dip to 16 year low

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Manufacturer’s share price falls to £1.18 from high of £19.80 five years ago

Shares in Nokia have dropped to their lowest level since 1996, dipping below €1.50 (£1.18) on the Helsinki stock exchange for the first time in 16 years on Monday.

The fall comes following analyst firm Moody’s demoting the firm’s bonds to ‘junk’ status and last month’s announcements of falling profits, 10,000 further job losses and cuts to its research and development facilities.

As recently as 2007 Nokia shares were trading at over €25 (£19.80), however falling marketshare and revenues have steadily decayed the price to yesterday’s low.   

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