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Nokia Posts Bigger-Than-Expected Loss as Handset Sales Slide
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Nokia Oyj, the Finnish mobile-phone maker that’s ceding market share to Apple Inc., reported its first quarterly loss since 2009 after handset sales slumped following an accord to shift to Microsoft Corp. software.
The second-quarter net loss was 368 million euros ($529 million), missing the 1.44 million-euro average loss estimate by analysts. Royalty payments totaling 430 million euros at the handset unit helped lift the average selling price of each phone by 2 percent to 62 euros, Espoo-Finland based Nokia said today.