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.”


Visit our main Fast Feed page regularly to keep abreast of the developing news.



About the author

I'm covering the science/tech/generally-exciting-and-innovative beat for Fast Company. Follow me on Twitter, or Google+ and you'll hear tons of interesting stuff, I promise.