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Nokia cuts losses but sales continue to plummet

April 18. 2013 7:34AM
Associated Press

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(AP) Nokia has reported a first-quarter net loss of 272 million euros ($357 million), down from a loss of 928 million euros a year earlier, mainly thanks to cost cutting. Sales, however, fell 25 percent to 5.8 billion euros.

The Finland-based company said it sold 5.6 million Lumia Windows phones in January to March, an increase of 27 percent compared with the previous quarter, but total mobile phones sales were down more than 30 percent at 1.59 billion euros.

Devices and services sales were down by more than 30 percent at 2.8 billion euros.

Nokia Corp. stock fell by more than 6 percent to 2.47 euros in early afternoon trading in Helsinki.

Associated Press

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