Nokia posts $1 billion operating loss
The beleaguered phone maker Nokia reported today a $1 billion operating loss on $9.23 billion in net sales in the second quarter.
Analysts expected a loss of 340 million euros ($420 million) on revenue of 7.53 billion euros ($9.27 billion). Nokia reported net sales of 7.5 billion euros ($9.23 billion), up from 7.4 billion euros ($9.11 billion) in the first quarter.
Analysts predicted that the Lumia model would sell about 4 million units, and the financial results have confirmed this. The company's statement said that while "Q3 will remain difficult, it is a critical priority to return our Devices & Services business to positive operating cash flow as quickly as possible."
