Nokia declares operating loss of 487 million euros in Q2
Nokia today declared an operating loss of 487 million euros in Q2.The company managed to ship 88.5 million phones in the quarter and had net sales of 9.3 billion euros but the handset maker is struggling to make a profit.Looks like Nokia CEO Stephen Elop has some tough days ahead of him.
Nokia continues to face a lot of competition from Android phones in the smartphone space and in the low end by re-branded Chinese handset vendors.
Nokia is expected to ship the N9 in this quarter and unveil it’s Windows Phone 7 devices later this year. Nokia’s partnership with Microsoft is critical to the handset maker as the company faces huge declines in sales and profits.
While we still figure out the details of the report you can read the complete results in the link below.