Neowin posted a news story that Bernstein analyst Pierre Ferragu stated its opinion after Nokia reported on Friday that it recorded a loss of 487 million euros in its last financial quarter and that it is losing market share in both regular mobile phones as well as smartphones.

In his analyst note, Ferragu states, "In a fast changing market, Nokia is losing ground very rapidly. The company lost significant market share again in the second quarter, 7pts in smartphones and 6pts in basic phones." In fact Nokia lost its title of the number one seller of smartphones in this quarter to Apple's iPhone. Nokia sold 16.7 million smartphones last quarter compared to Apple who announced earlier this week that it had sold 20.3 million iPhone units.

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