Nokia Reports $1.8 Billion Q1 Loss

Nokia is reporting an operating loss of $1.8 billion for the first quarter of 2012, on sales of $9.7 billion. A big chunk of that loss (about $1 billion) Nokia is attributing to restructuring costs of Nokia Siemens Networks. As competition from the iPhone and Android devices has left Nokia struggling in the U.S. and Europe, Nokia's been looking to emerging markets in Asia to pad their losses, but there too, cheap Android phones are challenging the company. But Nokia's putting up a fight yet--it's warming up to its partnership with Microsoft, putting the Windows Phone OS on its high-end devices, most recently the Lumia 900. Though, only a few weeks since its launch, the Lumia 900 is proving ominously hard to find in some stores in the U.S. Nokia also says that its executive vice president of sales, Colin Giles, is leaving the Nokia Leadership Team he joined last year, and exiting the company altogether after 20 years.

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