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.
GMT 08:27 2017 Thursday ,27 April
Nokia reports another loss as networks sagGMT 01:04 2017 Tuesday ,28 February
Nokia 3310 is back — and so is 'Snake'GMT 17:51 2017 Monday ,27 February
Iconic Nokia 3310 is backRussia tests new telemetry system during manned Soyuz MS-11 spacecraft’s launch
Moscow - TASS
The Astra-06 apparatus developed by specialists of Russian Space Systems (RSS) was used for the first time as additional telemetric equipment aboard the manned Soyuz MS-11 spacecraft launc...Read More
GMT 09:58 2019 Monday ,19 August
You find yourself facing new professional
GMT 13:53 2014 Wednesday ,08 January
US undergraduates impress astronomers with asteroid discovery
GMT 08:35 2017 Thursday ,20 April
Person killed in vehicle accident in Edde Jbeil
GMT 12:54 2018 Tuesday ,23 January
To 'eternal style' of late Alaia
GMT 16:07 2018 Tuesday ,09 January
Juncker seeks bigger EU budget after Brexit
GMT 13:12 2015 Saturday ,09 May
Sheikh Sultan opens Sharjah Centre
GMT 13:42 2018 Monday ,29 October
Egypt's trade volume hits $67.63 bln over 9 months
GMT 12:04 2018 Monday ,15 October
Seven dead in flooding after heavy rain in southern FranceGMT 13:44 2011 Saturday ,16 July
Hosts China start aquatics worlds with diving gold
GMT 05:10 2014 Monday ,03 February
Mars rocks Super Bowl half-time showGMT 08:42 2012 Friday ,03 August
I\'m spending Ramadan at homeGMT 15:01 2011 Friday ,19 August
Student dies after blow from MMA champ
GMT 10:04 2016 Friday ,16 December
'Butcher' Assad must go
GMT 19:02 2016 Wednesday ,21 September
Over 9,000 events to be held across China to mark popular science day
GMT 14:27 2014 Saturday ,29 November
Nishi Pearls offers promotion on jewelry items
GMT 11:45 2017 Wednesday ,19 July
100-year-old Saudi student benefits
GMT 11:05 2018 Monday ,22 January
Fashion superstar Slimane to take over
GMT 11:34 2018 Thursday ,18 January
Apple says will pay $38 bn in taxes
GMT 16:40 2017 Thursday ,26 January
Qatar welcomes Trump’s call for Syria safe zones
GMT 22:15 2015 Sunday ,16 August
Liam Neeson to star as US general in Korean film
GMT 13:37 2018 Wednesday ,03 January
Italy to send 470 troops to Niger
GMT 14:08 2015 Sunday ,01 February
First Iranian minibus to enter market
GMT 06:55 2017 Sunday ,26 November
Race to head Eurogroup heats up to major reforms
GMT 06:53 2015 Sunday ,13 September
Colombia, Venezuela renew ties amid border crisis
GMT 14:23 2012 Saturday ,25 February
1000hp Nissan GTR Skyline R34
GMT 16:34 2017 Thursday ,28 December
Hitler's Nazi-parade Mercedes set
GMT 13:04 2017 Sunday ,13 August
Four flights cancelled over lack of passengers
GMT 14:10 2015 Friday ,10 July
Bill Murray to make first Comic-Con appearanceGMT 18:25 2011 Sunday ,05 June
Ugly fish to rescue threatened species
GMT 06:39 2014 Sunday ,27 April
Columbus Short to leave \'Scandal\'
GMT 02:29 2014 Thursday ,20 February
Ailesbury Hair Clinic appoints Pickle PR
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 ©
Send your comments
Your comment as a visitor