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 03:33 2016 Saturday ,24 September

Diesel Black Gold fashion show during Milan Fashion Week

GMT 11:12 2018 Wednesday ,03 October

Osaka saunters into China Open third round

GMT 03:18 2017 Tuesday ,10 January

Home Centre decides to go in for a fresh look

GMT 14:44 2017 Saturday ,06 May

Pharmaceutical industry

GMT 22:32 2016 Wednesday ,24 February

'Deadpool' upends competition at North America box office

GMT 06:44 2017 Friday ,17 March

Bowling, table tennis achievements lauded

GMT 18:11 2017 Saturday ,04 March

Violence claims lives of 18 people across Syria

GMT 11:50 2017 Tuesday ,03 October

Bahrain weather forecast

GMT 12:18 2016 Friday ,30 September

To the importance of Oscar Wilde

GMT 09:53 2012 Friday ,25 May

Amr Yousef heads to Kenya \'Al Montaqem\'

GMT 09:25 2017 Saturday ,07 October

Spain rejects mediation calls as Catalans plan

GMT 22:41 2017 Friday ,02 June

Actress Suzanne Najm Al Din received

GMT 23:52 2017 Tuesday ,03 January

Syrian peace process struggles as rebels

GMT 12:59 2011 Friday ,15 July

Tasting lump of ice with fruit frozen inside

GMT 16:50 2011 Wednesday ,31 August

Justice sues to stop AT&T, t-mobile merger

GMT 21:14 2012 Tuesday ,28 August

Hyundai Veloster turbo SE

GMT 11:50 2011 Friday ,08 July

Russia\'s VTB bank secures record $3.1 bn loan

GMT 07:01 2017 Tuesday ,26 December

Lorde cancels Israel show after pressure

GMT 00:12 2013 Wednesday ,18 September

Damascus clubbers dance on in bid to forget war

GMT 10:55 2011 Tuesday ,15 November

TRA participates in UNESCO General Conference

GMT 18:26 2014 Tuesday ,27 May

Samsung to introduce standalone smart watch

GMT 15:24 2016 Sunday ,07 August

Stranded kayaker rescued after crocodile attack
 
 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 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

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