Nokia posts first quarterly loss in a decade

October 15, 2009
Shares

, HELSINKI, Oct 15 – Finnish mobile phone giant Nokia reported a net loss Thursday of 559 million euros (834 million dollars), its first shortfall in a decade, citing falling handset sales.

The news drove Nokia shares down by 6.02 percent to 9.68 euros on the Helsinki stock exchange, which was down 0.35 percent.

Chief executive Olli-Pekka Kallasvuo said the demand for mobile devices had improved in many markets during the July-September period but added that the company had had some problems.

"Our volumes and net sales were, however, somewhat constrained by component shortages we encountered across the portfolio," Kallasvuo said in a statement.

Shares

Latest Articles

Stock Market

Most Viewed