BUSINESS

Struggling Nokia's third-quarter net loss slumps to $1.27 billion as sales drop 20 pct

10/18/2012 07:10 EDT | Updated 12/18/2012 05:12 EST
HELSINKI - Nokia Corp. has reported a third-quarter net loss of €969 million ($1.27 billion) as revenue plunged 19 per cent and sales of its flagship Windows Phone fell under 3 million units.

The struggling company said that revenue dropped to €7.2 billion ($9.45 billion) and gave a grim outlook for the rest of the year.

A year ago Nokia reported a third-quarter net loss of €68 million on revenues of €8.9 billion.