Nokia Stock Down 4.4 Percent, Dropped To Lowest Level In 16 Years

Posted on May 14 2012 - 5:19pm by Editorial Staff

The troubled Nokia’s trouble seems not to be ending anytime soon as today the Finnish mobile giant share price have dropped to the lowest level in 16 years. Nokia (NOK) is down 14 cents, or 4.4%, to $3.06. The company recently posted its Q1 2012 financial reports, noting an operating loss of €1.3 billion that led to a net loss of €590 million for the period. Nokia sold 11.9 million smart devices during Q1, which is less than half of the 24.9 million it achieved in the first three months of 2011. Furthermore, Fitch and S&P downgraded Nokia’s rating and Samsung overtaking and becomes world’s biggest phone manufacturer. We are wondering what next to come for the company.

 

 

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Editorial Staff

Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.