Nokia posts £760m loss as sales hit

Updated
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Plummeting sales, including for smartphones, have helped push Nokia to a net loss of 929 million euro (£760 million) in the first quarter, the firm has announced.

The loss compared with a net profit of 344 million euro (£281 million) a year earlier. Revenue fell 30% to 7.4 billion euro (£6.1 billion) from 10.4 billion euro (£8.5 billion) in 2011, and the company gave a dim outlook warning of stronger than expected competition.

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