Business

Microsoft-bound Nokia business sees sales slide

By Matti Huuhtanen
Published January 23, 2014 4:56pm ET
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Microsoft-bound Nokia business sees sales slide
FILE - In this Monday, Feb. 25, 2013 file photo, Stephen Elop, chief executive officer of Nokia, speaks during a conference at the Mobile World Congress, the world's largest mobile phone trade show, in Barcelona, Spain. Nokia reports quarterly earnings on Thursday, Jan. 23, 2014. (AP Photo/Manu Fernandez, File) | Manu Fernandez

HELSINKI (AP) — The Nokia handsets business that Microsoft is due to take over saw sales continue to slide in the fourth quarter as its Lumia smartphones failed to draw business away from larger competitors like Apple and Samsung.

Shares in Nokia Corp. slumped Thursday after the company said it suffered a net loss of 25 million euros ($34 million) in the October to December period, with smartphone sales plunging 29 percent.

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