logo
Share SHARE
FONT-SIZE Plus   Neg

Nokia Slips To Loss In Q1 - Quick Facts

Nokia Corp. (NOK) reported that its first-quarter loss attributable to equity holders of the parent, on a reported basis, was EUR 929 million compared to net income of EUR 344 million last year. On a per share basis, reported loss was EUR 0.25 compared to net income of EUR 0.09 in the same quarter last year.

On a non-IFRS basis, loss attributable to equity holders of the parent for the quarter were EUR 282 million or EUR 0.08 per share, compared to net income EUR 489 million or EUR 0.13 per share in the year ago quarter.

The company said that loss incurred due to greater than expected competitive challenges and seasonality; reported loss also primarily driven by charges related to restructuring activities.

Reported net sales for the quarter totaled EUR 7.354 billion, down from EUR 10.399 billion in the same period a year ago.

Nokia expects its non-IFRS Devices & Services operating margin in the second quarter 2012 to be similar to or below the first quarter 2012 level of negative 3.0%.

Nokia continues to target to reduce Devices & Services non-IFRS operating expenses by more than EUR 1 billion for the full year 2013, compared to the full year 2010 Devices & Services non-IFRS operating expenses of EUR 5.35 billion.

In a separate press release, Nokia announced that Colin Giles, executive vice president of sales and a member of the Nokia Leadership Team, will step down from his position and the Nokia Leadership Team effective June 30, 2012.

okia said that it will restructure the sales organization by reducing a layer of sales management. Effective immediately, Nokia's four regional senior vice presidents and the lead of sales operations will report directly to Niklas Savander, executive vice president of markets.

The company noted that the regional senior vice presidents include Chris Weber for the Americas; Shiv Shivakumar for India, Middle East and Africa; Olivier Puech for Asia Pacific and Victor Saeijs for Europe and Eurasia.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Apple Inc. has confirmed that the iPhone 6s battery issue may be larger than thought, as the tech giant said that some customers "outside the affected range of devices" have also reported unexpected shutdowns. The company again stressed that it is not a security issue. Tesla Motors Inc. voluntarily recalled more than 7000 charging adapters. The company said these adapters of Nema 14-30, 10-30 and 6-50 are sold separately as accessories. Earlier in November, two customers had complained about overheating issue of Nema 14-30 charging adapters. Tesla confirmed in its recall communication that there were no other similar incidents or reports of injuries or proper Sony announced Project Field, a new play way to bring card games to life, along with a host of smartphone games at an event in Japan, aiming to accelerate mobile drive. Project Field is a Japan-only card collection platform where actual physical cards will work with a smartphone app. The first title to be announced is based on Yo-kai Watch for mobile. There is no news about an international releas
comments powered by Disqus
Follow RTT