Nokia reports dismal financial results

In stark contrast to Apple - which earlier this week announced profits of over $7 billion in a single quarter - its Finnish competitor has revealed sharp declines across its business over the past three months. Having posted a €295 million profit this time last year, Nokia announced losses of €487 million. Sales revenue, earnings per share and cash in hand all slumped, and sales fell in every single device category and every single territory except the Middle East, Africa and South America.

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