Welcome To The Handset Business, Microsoft: Nokia’s Phone Revenue Plummets In Q1
Microsoft’s acquisition of Nokia’s devices and services business was finalized last Friday but Nokia had one last gift for the new owner of its handset business: plummeting phone sales. Nokia on Tuesday reported its results for the first quarter of 2014, which included a $421 million profit on revenue totaling $3.7 billion, down 15% on year. Nokia’s handset business posted a $424 million operating loss in the quarter, so Microsoft clearly has a steep hill to climb.
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