HELSINKI (AP) — Struggling Nokia Corp. said today its sales continued to drop in the second quarter, while it managed to reduce its net loss amid continued cost-cuts.
The Finnish cellphone maker said second-quarter sales fell to 5.7 billion euros ($7.49 billion) from 7.5 billion euros in the same period last year. Net loss for the April- June period was 227 million euros, compared to a net loss of 1.41 billion euros a year earlier.
The sales figures fell short of analysts’ expectations — a poll of 30 analysts by SIX News had forecast sales of 6.4 billion euros. The company’s share price fell 4.5 percent to 2.96 euros during lunchtime trading on the Helsinki Stock Exchange.
Sales of the company’s flagship Lumia phones increased by 32 percent compared with the first quarter to 7.4 million handsets — but this was still at the lower end of analysts’ expectations. Overall, the company sold 61.1 million phones in the quarter, down 27 percent compared with the second quarter in 2012.
The Times Record Sustaining Sponsor
We believe a community must be informed to thrive. bowdoin.edu
Comments are not available on this story. Read more about why we allow commenting on some stories and not on others.
We believe it's important to offer commenting on certain stories as a benefit to our readers. At its best, our comments sections can be a productive platform for readers to engage with our journalism, offer thoughts on coverage and issues, and drive conversation in a respectful, solutions-based way. It's a form of open discourse that can be useful to our community, public officials, journalists and others.
We do not enable comments on everything — exceptions include most crime stories, and coverage involving personal tragedy or sensitive issues that invite personal attacks instead of thoughtful discussion.
You can read more here about our commenting policy and terms of use. More information is also found on our FAQs.
Show less