Nokia hit by smartphones slump
Thursday 19 July 2012
Nokia's net loss more than tripled in the second quarter on sagging sales of smartphones, a market in which the company is struggling to regain ground lost to rivals including Apple and Samsung.
Nokia posted a net loss of 1.41 billion euro (£1.1 billion), compared with a loss of a 368 million euro (£288m) in the same period last year. Overall sales were down 19% to 7.54 billion euro (£5.9bn), while smartphone sales dropped 34% to 1.54 billion euro (£1.21bn).
The Finnish company was the world's leading mobile phone maker for more than a decade but was overtaken by Samsung in the first quarter according to research firm Gartner.
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