Nokia reports 826 million Dollars loss in 2016

Helsinki | February 3,2017 | 9:13 am

Telcoms giant Nokia 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 unchangeable recorded a net loss of 766 million euros ($826 million) last year, which chief supervision Rajeev Suri described in a verification as a "year of transition."

Suri admitted he was "disappointed" plus than the 2016 results but said he received a augmented financial be in this year "as statement conditions summative."

"We remain in a perspective of financial strength," said the chief admin.

Nokia has been going through a process of militant transformation progressive than the last few years.

In 2013, it bought 50 percent of its network deeds from Germany's Siemens, and the taking into consideration year it divested from its to the fore world-leading mobile phone issue.

It sold its mapping unit Here in 2015 as quickly as completing the promise late last year to get bond of Alcatel-Lucent, which had unaided recorded one year of annual profit by now its inception in 2006.

Nokia was the world's pinnacle mobile phone maker amid 1998 and 2011 but was overtaken by South Korean opposition Samsung after failing to appreciation to the unexpected rise of smartphones.

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