The Nokia company was just reported to have a recorded a huge loss in profit, let’s read the news to find out more about this crazy report.
Nokia Company…
The Nokia company which actually came back stronger as ever early January is going trough a bad moment right now. Leaks just reported that Nokia saw a huge loss in revenue after the first Quarter performance, with sales in its main business, networks, on the decline. Based on what was stated by a stock market Analysist, the Nokia company actually posted a loss of €488 million (US$532 million) in the first quarter.
This is a little better that its previous performance, Nokia lost an amount of €609 million, so the actual figure shows that “improving business momentum, even if some challenges remain”. The Nokia’s overall sales also saw a decline by 2 percent to € 5.38 billion, and the total sale in the whole core business went down by 6 percent, to €4.9 billion. We were all expecting the company to generate a crazy revenue in order for its investment to develop but did the opposite.
Nokia recently launched devices like the Nokia 6, Nokia 5, Nokia 3 and the Nokia 3310, these smartphones all run on the latest OS called Nougat, except the 3310 model. There are also other Nokia smartphones that fans are waiting, they are named Nokia 8 and Nokia 9, we expect these devices to generate more revenue as they are comparable to the Galaxy S8. The Nokia company is eyeing business opportunities delivered by the “path to a 5G roadmap”, Suri said, referring to the worldwide offer of the lightning-fast 5G mobile internet service that operators expect by 2020.
Nokia Company…
Nokia was the world’s top phone maker from 1998 to 2011 but was overtaken Samsung after failing to respond to the rapid rise of smartphones. Nokia recorded a net loss of €766 million in 2016, and this was believed to be the year of transition.