nokia reports 766 million euro loss in 2016
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

Nokia reports 766 million euro loss in 2016

Egypt Today, egypt today

Egypt Today, egypt today Nokia reports 766 million euro loss in 2016

Nokia
Helsinki - AFP

Telecoms giant Nokia on Thursday said that falling network sales and costs stemming from acquisitions and its integration of Alcatel-Lucent had resulted in a "disappointing" loss in 2016.

The firm recorded a net loss of 766 million euros ($826 million) last year, which chief executive Rajeev Suri described in a statement as a "year of transition."

Suri admitted he was "disappointed" with the 2016 results but said he expected a better financial performance this year "as market conditions improve."

"We remain in a position of financial strength," said the chief executive.

Nokia has been going through a process of radical transformation over the last few years.

In 2013, it bought 50 percent of its network activities from Germany's Siemens, and the following year it divested from its previously world-leading mobile phone business.

It sold its mapping unit Here in 2015 as well as completing the deal late last year to buy Alcatel-Lucent, which had only recorded one year of annual profit since its inception in 2006.

Nokia was the world's top mobile phone maker between 1998 and 2011 but was overtaken by South Korean rival Samsung after failing to respond to the rapid rise of smartphones.

egypttoday
egypttoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

nokia reports 766 million euro loss in 2016 nokia reports 766 million euro loss in 2016



GMT 10:58 2014 Friday ,31 January

What is Brahimi's logic on Syria?

GMT 10:49 2015 Saturday ,02 May

Prince William's wife Kate gives birth to girl

GMT 17:11 2015 Tuesday ,17 November

Cameron joins fans for French anthem rendition

GMT 16:05 2017 Tuesday ,18 July

Egypt-Press-Headlines 4 last Cairo

GMT 19:37 2013 Thursday ,07 February

Sultan to open Sharjah Light Festival Thursday

GMT 09:47 2017 Sunday ,13 August

Saudi, Russian FMs discuss ways of cooperation

GMT 04:17 2013 Saturday ,12 October

Driving reform

GMT 03:57 2014 Tuesday ,25 February

Conspiracy theories that will not die

GMT 05:36 2014 Tuesday ,04 March

Mein Kampf and other books of hatred

GMT 19:06 2017 Friday ,17 February

Kinda Alloush stuns in new image on Instagram

GMT 07:33 2017 Monday ,17 April

Al Jazeera Annual Form Kicks Off

GMT 07:58 2017 Sunday ,30 July

Nur Alimah Aims To 'Create Waves' At Kl2017

GMT 12:13 2017 Thursday ,28 December

Israel to name new Jerusalem station

GMT 07:42 2017 Tuesday ,31 October

Actress Dora resumes filming “The Backstreet”

GMT 07:09 2011 Friday ,17 June

Rana Al Abyad has no intent to love

GMT 13:43 2017 Tuesday ,08 August

Sisi keen on upgrading scientific thinking

GMT 07:27 2017 Wednesday ,22 November

AkzoNobel, US rival Axalta can merger talks
 
 Egypt Today Facebook,egypt today facebook  Egypt Today Twitter,egypt today twitter Egypt Today Rss,egypt today rss  Egypt Today Youtube,egypt today youtube  Egypt Today Youtube,egypt today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

egypttoday egypttoday egypttoday egypttoday
egypttoday egypttoday egypttoday
egypttoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
egypttoday, Egypttoday, Egypttoday