Nokia losses pile up as sales plunge

Published October 18, 2012 4:07pm ET



HELSINKI (AP) — Nokia Corp. reported Thursday that its third quarter net loss widened further to €969 million ($1.27 billion) with a 19 percent plunge in revenue, as it struggles against the dominance of Samsung and the iPhone in the tough smartphone market.

Net sales dropped to €7.2 billion ($9.45 billion), and Nokia gave a grim outlook for the rest of the year as it prepares for this fall’s launch of Microsoft Corp.’s new phone software, Windows Phone 8.

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