Nokia sells fewer handsets than expected in Q2

Nokia sold fewer handset than expected in the second quarter, showing it is still far from regaining market share it has lost to rivals Samsung  and Apple .

Nokia said it shipped 7.4 million Lumia smartphones in the quarter, up 32% from the first quarter but fewer than the 8.1 million units analysts had anticipated in a Reuters poll.

Sales of regular mobile phones were also weaker than expected at 53.7 million units compared to the market's expectation for 56.2 million.

Its cash reserves were roughly in line with market expectations at 4.1 billion euros.