Nokia Posts $1.38 Billion Loss in Fourth Quarter

ouch! makes rim healthy.

nokia posts $1.38 billion loss in fourth quarter

quote

helsinki (ap) — mobile phone maker nokia corp. on thursday posted fourth-quarter net loss of euro1.07 billion ($1.38 billion) sales slumped 21 percent company's first windows smartphones hit markets in europe , asia.

loss compares profit of euro745 million in same period year earlier.

nokia said net revenue — including both mobile phones , network divisions — fell euro12.6 billion in fourth quarter of 2010 euro10 billion, smartphone sales plunging 23 percent.

nokia has lost once-dominant position in global cell phone market, android phones , iphones overtaking in growing smartphone segment.

finnish company attempting comeback phones using microsoft's windows software — struggle nokia ceo stephen elop characterized "war of ecoystems."

said nokia has sold "well over" 1 million such devices since launch in fourth quarter — in line company expectations. lumia 710 , lumia 800 hit stores in europe , asia in november while t-mobile started offering 710 in u.s. in january.

"from beachhead of more 1 million lumia devices, see push forward sales, marketing , successive product introductions necessary successful," elop said. "we plan bring lumia series additional markets including china , latin america in first half of 2012."

company's shares jumped more 5 percent euro4.28 ($5.60) on helsinki stock exchange in afternoon trading.

company said not provide annual targets 2012 in "year of transition" added expects operating margins in first quarter of year "about break-even, ranging either above or below approximately 2 percentage points."

repeated target of cutting costs more euro1 billion 2013.

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but weren't expecting such rough go of transition on wp7?

article states, they're no out of wood yet seem pointed in right direction.

real question this: consumers embrace nokia/wp7 phones or late because of ios , android

 

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