The UKP230m proceeds from the sale of Nokia Data to ICL Plc last month has pulled Finnish conglomerate Nokia Oy away from the brink of disaster: Nokia narrowly escaped a fall into the red at the start of the year, and has just seen pre-tax profits for the first four months plummet 90% to the equivalent of $5.6m, whilst a loss per share was recorded; in February, Nokia paid UKP38m for UK cellular phone maker, Technophone Ltd; the company has also been hard hit by the weak economic climate in Scandinavia and the political unrest in the Soviet Union; an increase in sales may show for the year, but president Kalle Isokallio admits that this is only possible because of the one-off profits from the sale to ICL.
