Saturday, October 22, 2011

Nokia Swings To Loss In Quarter

Mobile phone hulk Nokia has mentioned it done a loss in the third entertain as it one after another to advance beneath pressure from other phonemakers.

It swung to a net loss of 151m euros (132m) in the 3 months to September, from a 322m-euro distinction in the same period.

Net sales fell 13% to 9bn euros.

Nokia has mislaid belligerent to competitors such as Apple's iPhone and phones using Google's Android working system.

Shares in the Finnish phonemaker have plunged 41% so far this year.

Nokia mentioned it sole 16.8 million chic gadgets in the entertain - 38% reduction than the formerly year.

But the volume of mobile phones Nokia sole in complete rose 8% to 89.8 million - reflecting its strength in cheaper and easier supposed "dumbphones".

'Encouraged'

The company's new operation of smartphones will use Microsoft's working network instead of Nokia's bequest Symbian software.

"I am speedy by the growth around the initial Nokia experience with Windows Phone," Nokia team leader Stephen Elop said.

"We look deliver to bringing the experience to consumers in choose countries after that this quarter."

Earlier this year, Nokia voiced thousands of work cuts as segment of a 1bn-euro cost-cutting programme.

In April, it mentioned it would cut 7,000 jobs - with 3,000 of the posts being eliminated to consultancy organisation Accenture - as segment of a plan to concentration on smartphones.

"The programmed changes you have instituted are difficult, but vital to be able to enter into the firm to the strategy," Mr Elop said.

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