Nokia sales take hit in 2011

28/01/2012

The world's leading mobile phone manufacturer Nokia has posted deep losses amid slumping handset sales and despite releasing its new line of Windows-based smartphones.

Figures for the whole of 2011 found the company had posted a net loss of €1.2 billion ($1.47 billion) which compared to a net profit of €1.8 billion the previous year. The final quarter of the year showed a €1.07 billion net loss after a profit of €745 in the same period a year earlier.

Nokia chief executive Stephen Elop described the fourth quarter results as a "significant step in Nokia's transformation".

"We brought the new devices to market ahead of schedule, demonstrating that we are changing the clock speed of Nokia," he said.

Recent figures estimated by Bloomberg suggest that the Lumia 800 handsets have sold 1.3 million units globally and the new Lumia 900 is due to be launched in March this year.

Posted by Claire Marshall

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