Friday, April 20, 2012

Nokia Posts first quarter Operational Losses

Nokia posted today 1,34 billion euro operational losses on the first quarter mainly attributed to restructuring, as well as heavy losses by NSN (about 772 million euros in losses by NSN).

Nokia stock fell about 15 % and the finish company posted the lowest performance since 2004, due to the fall in handset sales, and limited profit margins of smartphones. The fall in revenue is about 29 percent.

Nokia has already announced cost reductions and layoffs in order to compete with Ericsson and the mighty Apple, and is also considering asset sales.

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