Loss for Nokia after flat sales
NOKIA has reported a continued loss in the second quarter with almost flat sales, mainly caused by a 5 percent decline in its core networks business. The Finland-based networks company says its net loss was €423 million (R6.42 billion), less than the €667m a year earlier. Sales in the period grew 1 percent to €5.6bn. The company’s chief executive, Rajeev Suri, yesterday described “headwinds” in the period and predicted a further drop in the networks sector. “We now expect a decline in the market in the range of 3 to 5 percent, versus our earlier view of a low-single-digit decline. … We expect our networks sales to perform in line with the market,” Suri said yesterday.