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Nokia Suffers Quarterly Loss of $4.7 Billion
Nokia Suffers Quarterly Loss of $4.7 Billion


The third quarter results for Finnish mobile maker Nokia have shown a loss of $1.27 billion, as the revenue for the mobile giant plunged by 19 percent and sales figures for their latest flagship Windows Phone falling under 3 million units.


The once dominant mobile maker has been struggling and in a statement the company told that, their revenue has dropped to $9.45 billion. Nokia last year reported third-quarter loss of around 8.9 billion on revenues.


The net cash position of Nokia fell to around $4.7 billion by the June end quarter from $4.2 billion; however, it still was ahead of the forecasted $3.4 billion.


Nokia once dominated the global mobile market, but since the emergence of Apple’s iPhone followed by Samsung’s Galaxy phones running Google Android OS, things have changed dramatically for them.


However, the Finnish group is expectant of revitalizing their chances in the smartphone market with their top-of-the-range Nokia Lumia 820 and Nokia Lumia 920 phones, running Microsoft's all new Windows 8 software and is expected to enter the market in November.


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