Nokia reports huge €1.2 billion loss for 2011
Posted on: Jan 26, 2012 |
|
Nokia, struggling to remain the world's top mobile phone maker, today posted huge losses for both the full year of 2011 and for the fourth quarter.
For all of 2011, the company posted a net loss of €1.2 billion, compared with a net profit of €1.8 billion a year earlier, while its fourth quarter saw a net loss of €1.07 billion compared with a profit of €745m in the final quarter of 2010. Net sales for the months from October to December slide 21% year-on-year to €10 billion, while sales for the full year were down 9% at €38.66 billion. Nokia CEO Stephen Elop, who has been leading the company through a major restructuring, said in a statement that the fourth quarter results as "a significant step in Nokia's transformation." "While we progressed in the right direction in 2011, we still have a tremendous amount to accomplish in 2012, and thus, it is my assessment that we are in the heart of our transition," he added. Stephen Elop, who last February announced the phasing out of Symbian as Nokia's smartphone platform in favour of a partnership with Microsoft, said he was satisfied with the company's launch of its first phones on the Microsoft platform - the Nokia Lumia 800 and the Nokia Lumia 710 - in the fourth quarter. Nokia said it had sold "well over one million" of the new Lumia phones since the launch in October, in line with market expectations. |
|
RELATED NEWS: | |
Miranda Kerr "in a relationship" with a billionaire |
|
Posted on Dec 02, 2013 | |
Model Miranda Kerr split from her husband Orlando Bloom just one month ago, but the Victoria's Secret beauty has already moved on to ...View moreRelated ranking(s) |
|
Elie Saab to launch fashion degree | |
Posted on Nov 29, 2013 | |
Elie Saab is working with the London College of Fashion and the Beirut and Byblos-based Lebanese American University on a new fashion course.
...View more Related ranking(s) |
|
Australian mayor asks Justin Bieber to clean up his mess | |
Posted on Nov 28, 2013 | |
Justin Bieber has fallen into the bad books of an Australian mayor who has asked the 'Heartbreaker' singer to
...View more Related ranking(s) |
|
A book sold for $ 14 million at auction | |
Posted on Nov 27, 2013 | |
The first book printed in what is today the United States of America sold for more than $14 million at auction in New York Tuesday
...View more Related ranking(s) |
|
Lady Gaga for Versace | |
Posted on Nov 26, 2013 | |
Grammy Award-winning singer Lady Gaga has been unveiled as the face of the spring 2014 Versace campaign
...View more Related ranking(s) |
|
Moet & Chandon presents champagne vending machine | |
Posted on Nov 21, 2013 | |
After caviar, cupcakes and high-end mascara, now there’s a vending machine selling bottles of luxury bubbly by Moet & Chandon.
...View more Related ranking(s) |
|
Madonna is the highest-paid musician | |
Posted on Nov 21, 2013 | |
Forbes magazine named Madonna the highest-paid musician in the world on Tuesday, estimating her earnings at
...View more Related ranking(s) |
|
2014 Range Rover Sport debuted at New York Auto Show | |
Posted on Mar 27, 2013 | |
The 2014 Range Rover Sport will be available in four different models: the Sport SE, Sport HSE, Sport Supercharged, and the Sport Autobiography. Customers will be able to
...View more Related ranking(s) |
|
Vera Wang charges $500 to try on dress in China | |
Posted on Mar 27, 2013 | |
Vera Wang is known as the ‘Queen of Bridal’, and her lavish gowns are regally priced, with dresses in her Chinese boutique starting at 30,000 yuan ($4,815).
...View more Related ranking(s) |
|
Justin Bieber accused of making threats and battery | |
Posted on Mar 27, 2013 | |
Justin Bieber's neighbor accused the singer of "battery and threats" after a confrontation outside his Calabasas, California, home on Tuesday morning, a law enforcement spokesman said.
...View more Related ranking(s) |
|