Nokia Oyj, the world’s biggest maker of mobile phones, had its
first net loss since the company began reporting quarterly in
1996, hurt by costs related to a joint venture with Siemens AG and
The net loss totaled 559 million euros ($834 million), after a
profit of 1.09 billion euros a year earlier. Sales declined 20
percent to 9.8 billion euros, missing the average estimate of
10.03 billion euros in a Bloomberg analyst survey. Analysts had
anticipated a profit of 367 million euros.