Nokia Posts First Quarterly Loss in a Decade

Oct. 15, 2009
Company faced component shortages

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

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.

Copyright Agence France-Presse, 2009

Sponsored Recommendations

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!