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| Nokia reports loss as mobile phone sales drop | Nokia reports loss as mobile phone sales drop |
| (40 minutes later) | |
| Mobile phone giant Nokia has reported a loss for the final three months of last year, as sales of mobile devices fell sharply. | Mobile phone giant Nokia has reported a loss for the final three months of last year, as sales of mobile devices fell sharply. |
| The firm made an operating loss of 954m euros ($1.26bn: £800m). Net sales fell 21% on a year earlier to 10bn euros. | The firm made an operating loss of 954m euros ($1.26bn: £800m). Net sales fell 21% on a year earlier to 10bn euros. |
| Net sales of mobile phones were down by a quarter. | Net sales of mobile phones were down by a quarter. |
| In October, Nokia launched its first two Windows-based smartphones which it hopes will help it gain ground on Apple and Android-based competitors. | In October, Nokia launched its first two Windows-based smartphones which it hopes will help it gain ground on Apple and Android-based competitors. |
| The former market-leader in mobile phones has lost out to the iPhone and other smartphones that use Google's Android operating system. | |
| To try to catch up, it decided to dump its legacy Symbian software in favour of Microsoft for its new range of smartphones. | |
| "The fourth quarter of 2011 marked a significant step in Nokia's transformation," said chief executive Stephen Elop. | |
| "Overall, we are pleased with the performance of our mobile phones business." | |
| The company said 2012 would continue to be a "year of transition" so it would not be giving any sales or profits forecasts. | |
| On Wednesday, Nokia said it had sold its 1.5 billionth mobile phone based on its S40 operating system. | |
| It estimated there are currently 675 million active owners of S40 phones in the world, and said it is currently selling about 12 phones of the S40 family every second. |