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Nokia suffers £1b loss in Q1


Nokia's first quarter financial results for 2012 have been relesaed and it shows a £1.34 billion Loss.

The Finnish manufacturer's poor performance has been adversely affected by the Nokia Lumia sales in the UK which have been extremely poor.  The Lumia family of products are Windows based and have faced criticism from across Europe however Nokia are blaming  "greater than expected competitive challenges and seasonality"

The figures in Europe showed a 30% drop in the UK quarter on quarter whilst figures in the US for device and service sales were actually up 75% compared to the last quarter of 2011.  Sales of its smart devices are down by 52 per cent compared to the same time in 2011, while its other range of mobile phones are also down by 32 per cent.



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