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Lumia fails to light the way ahead for Nokia

Updated: 2012-04-21 07:33
By He Wei in Shanghai ( China Daily)

The new Lumia lineup has failed to become the white knight riding to the rescue of the troubled headset maker Nokia Oyj, which encountered its fourth quarterly profit slide in a row.

Among the "greater than expected challenges", as cited by Nokia CEO Stephen Elop, are the sluggish sales of smartphones in high-growth markets like China, and the changing tide of feature phones, which are increasingly challenged by inexpensive full-touch devices.

According to its first quarter interim report, the Finland-based phone manufacturer reported an operating loss of 1.34 billion euros ($1.8 billion) in the first quarter of 2012, whereas it gained a net profit of 439 million euros in the same period last year.

Lumia fails to light the way ahead for Nokia