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Lumia fails to light the way ahead for Nokia

By He Wei in Shanghai ( China Daily ) Updated: 2012-04-21 07:33:39

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

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