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Nokia Reports Billion Dollar Loss In Quarterly Finances

News updates all day from Fast Company.

Nokia's finances for the second quarter of 2012 have just been reported: On €7.5 billion in sales (approx $9.2 billion), a figure that represents a slip of €500 million on the previous quarter, the company managed to convert the money into a quarterly loss of €826 million—around $1.02 billion. While Nokia managed to increase overall handset sales both quarter-on-quarter and year-on-year to 73 million units, it's clear that the firm isn't selling enough high-margin handsets to overcome its own operating costs...despite the fact it reported second quarter sales of its flagship Lumia Windows-powered smartphones were up to 4 million phones. Nokia also reported that the third quarter is expected to be challenging for its Smart Devices division due to "product transitions."

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