News, Nokia

Nokia Q1 2012 results: $9 billion Sales, $1.7 billion Loss

Nokia has released their 2012 Q1 financial results, revealing net sales of €7.4 billion ($9.7 billion), which is down from €10.4 billion ($13.6 billion) year-on-year.

Net sales are down 30 percent compared to the same period last year, and the company suffered a loss of €1.3 billion ($1.7 billion) for the first 3 months of this year. Nokia CEO Stephen Elop said much of the loss is due to increased competition and the various costs of restructuring, adding that the UK has been “challenging”, with carriers resistant to Nokia’s use of Windows Phone as their primary smartphone operating system.

More info in the PDF source below.

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