27 Jan 2012

Nokia announces 1bn euro loss

2:04 pm on 27 January 2012

Mobile phone giant Nokia has reported a loss in the final three months of last year, as sales of mobile devices fell sharply.

The Finnish firm announced a loss after tax of 1.08 billion euros.

Sales of the company's new Windows-based smartphones failed to dent the dominance of Apple's iPhone or compensate for diving sales of its own old smartphones.

The company launched its first two Windows-based smartphones in October, dumping its Simbian operating system.

Net sales of mobile phones were down by a quarter.