Nokia have revealed their latest financial results, and it seems the only people left smiling by the performance of the Finnish phone giants will be Apple.
Nokia have reported an operating loss of £424 million and a net loss of £323 million. It’s crushing news considering that this time last year the company were posting a £257 million profit.
It also means that Nokia now fall into second place when it comes to smartphone sales, managing to shift only 16.7 million smartphones in the second financial quarter, down 34%. This allows Apple, with 20.3 million sales over the same period, to jump to the top of the smartphone pile.
Those Windows Phone 7 Nokia handsets can’t come quick enough it would seem, with even Nokia boss Stephen Elop conceeding that his firm’s problems have “manifested in a greater than expected way”.