Nokia Records $1.21 Billion Loss During Jan-Mar Quarter

Nokia lost out in completion with rivals like Apple, Samsung and HTC and has registered a net loss of $1.21 billion (929 million euros) for the quarter ended 31st March due to decline in sales.

Nokia’s net sales fell 29% in January-March quarter to 7.35 billion euros. In 2011 at the same quarter Nokia had posted a net profit of 344 million euros.

Nokia had sold 82.7 million mobile set during this period against last year’s 108.5 million devices sale at the same period. Nokia’s smartphone shipments reduced to 11.9 million from 24.2 million a year ago.

In an interview with media, Nokia CEO Stephen Elop said, “We are navigating through a significant company transition in an industry environment that continues to evolve and shift quickly. Over the last year we have made progress on our new strategy, but we have faced greater than expected competitive challenges.”

• About the Author

About Sprightly Spirit

“I dare do all that may become a man. Who dares more is none”. And all, may be. It may be the vigor. Or the spirit. Or the courage to avoid being “politically correct” or bent. And, ban all averse with immaculate overture of graciously fathomable words firm in views. Subtle. Justifying the undying conscience. Values. Knowledge. And, dares to stay true. True to own. True to the world. And, to the words. With a dream in eyes it exists. In you. In me. In all. The sprite that never shies away. The spirit that never dies!