Faced with stiff competition and a sharp decline in sales, Nokia Corporation has posted a net loss of 929 million euros for the January-March 2012 quarter. Also, for the three months ended March 31, 2012, the company?s net sales fell by 29 per cent compared to the same period last year to 7.35 billion euros.
In the same quarter last year, the company had posted a net profit of 344 million euros.
Moreover, the company said that it sold 82.7 million mobile devices during the first quarter, compared to 108.5 million devices in the same period last year.
The company?s smartphone shipments also declined, from 24.2 million a year ago to 11.9 million in the period under consideration.
While the company has registered a loss in device shipments in all geographies, the losses were heaviest in India, China and North America.
In the Asia Pacific region, the company’s revenues declined by 21 per cent, in China, the decline was 65 per cent and 28 per cent in West Asia.
