Nokia Profits Down

Matt Brian, TNW:

Nokia has released its second-quarter financials, detailing the challenges it faced during its strategic transformation to post a €487 million operating loss, a drop of €782 million in just one year.

The Finnish mobile giant saw overall net sales plummet 11% quarter-on-quarter and 7% year on year, to €9.275 billion as smartphone sales dropped 32% from the previous quarter to 16.7 million units. The company’s profits down 41% year on year with all mobiles down 20%.

Remember when everyone and their mom had a Nokia? Now it’s just their moms.

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