Nokia profit plunges 90 percent in Q1

(AP) -- Nokia Corp. on Thursday said profits plummeted 90 percent in the first quarter because of fading demand for mobile phones amid the worldwide downturn - but its shares surged as analysts had expected an even gloomier report.

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<p><a href="http://www.physorg.com/news159099507.html">Nokia profit plunges 90 percent in Q1</a></p> <p>(AP) -- Nokia Corp. on Thursday said profits plummeted 90 percent in the first quarter because of fading demand for mobile phones amid the worldwide downturn - but its shares surged as analysts had expected an even gloomier report.</p>