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Nokia posts 1st-quarter loss of '929 mln ($1.2 bln) as sales plunge amid tough competition
HELSINKI (AP) ' Nokia Corp. says it made a net loss of '929 million ($1.2 billion) in the first quarter, compared with a profit of '344 million a year earlier, as it faces tougher-than-expected competition.
The Finnish company says revenue fell to '7.4 billion from '10.4 billion a year earlier.
Nokia has faced increasingly stiff competition in the smartphones market, where it has been been overtaken by Apple Inc.'s iPhone in volume sales and revenue.