By Preethi J & Nikhil Pahwa At the end of a quarter that saw the launch of Nokia's much hyped N97 phone, and on the back of discouraging results in the last quarter, leading handset manufacturer Nokia reported a growth in its device sales and services revenues - up by 6.7 percent to Euro 6.58 billion over the previous quarter. The company reported an earnings per share of Euro 0.15, up significantly from EUR 0.03 reported in Q1. However, Nokia is still to recover from the decline in handset sales due to destocking of inventories - revenues are still down 27.5% compared to the corresponding quarter last year. Q209 Details: Financials | Presentation | Release | Webcast Nokia CEO Olli-Pekka Kallasvuo said that the mobile device market appears to be bottoming out, and the company has put in "a solid performance", increasing their global device market share to 38 percent, and smartphone marketshare to 41 percent. Kallasvuo said the company is "balancing short-term priorities with our longer-term growth ambitions" and accelerating its "strategic transformation into a solutions company" as elements of the mobile handset, PC, internet and media industries converge to form a new industry. Nokia reported a quarter on quarter growth in net sales of 6.9 percent and a 50.8 percent increase in operating profit. Year on year, however, net sales declined 24.6 percent while operating profit declined 62.3 percent. Outlook Nokia's expecations from Q3 are muted: the company expects device volumes to remain around the same or slightly improved, and no significant…
