Nokia Sales Miss Analysts’ Estimates as Handset Demand Wanes
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Nokia Oyj, the Finnish mobile-phone maker attempting a comeback, reported revenue that missed analysts’ estimates as intensifying competition across the market cut the number of handsets sold by 27 percent.
Second-quarter sales fell 24 percent to 5.7 billion euros ($7.5 billion), Espoo, Finland-based Nokia said today. Analysts projected 6.4 billion euros, the average of estimates compiled by Bloomberg. While sales of the Lumia smartphone line rose to 7.4 million units, demand for older and more basic phones fell.