Nokia Lost A Billion Euros Last Quarter

Nokia Lost A Billion Euros Last Quarter
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The move to Windows Phone 7 has been a difficult one for Nokia. Even though the switch was announced almost a year ago, handsets have been sparse, although well received in the few regions around the world they have launched. But that hasn’t halped the bottom line, with the Finnish giant losing one billion Euros in the final quarter of 2011.

The company’s €1.07 billion loss is even more striking when compared to the €745 million in profit it made in the same quarter one year earlier, given that things weren’t going especially well for the company back then either.

Despite Microsoft giving Nokia a chunk of cash to build WP7 handsets, until they are plentiful around the world and marketed like their lives depended on it, it’s going to take a little while for Nokia to dig themselves out of this hole.