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The mobile handset maker has registered a second quarter net loss of 1.53 billion euros, or 8 euro cents a share when adjusted for one-off items. The company held net cash of 4.2 billion euros in the second quarter in comparison to 4.9 billion at the end of the first quarter of 2012. The advance royalty payments of 400 million euros accounted for lower net cash held by the company.
Nokia has been continuously losing market share to Apple?s iPhones and Samsung?s Galaxy phone. In the second quarter, Nokia sold 4 million Windows phones which is a fraction of 30 million iPhones and 50 million smartphones sold by Apple and Samsung, respectively.
