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Nokia reinvents itself again as it offloads troubled phone division

29
Apr
2014

Nokia may have sold its mobile and tablet business, but it will live on. Its latest earnings report highlights the dire state of affairs Microsoft has just inherited through the purchase of Nokias Devices and Services division. Although Nokia is vague about precise sales, device revenues were down 30 percent from last year, from €2.77 billion ($3.84 billion) to €1.93 billion ($2.68 billion), and losses rose from €120 million ($166 million) to €326 ($452 million). Nokia primarily attributes the huge dip in revenues to falling sales of regular phones, but does note that sales of its smartphones, the majority of which are Windows Phone Lumia devices, also fell.

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