Nokia posts loss for first joint results with Alcatel-Lucent

Nokia, which now concentrates on network equipment after failing to adapt to the rapid rise of smartphones.

In comparable figures, the company`s global revenue fell by 9% to 5.60 billion euros ($6.37 billion). Photo: AFP

Nokia suffered a net loss of 513 million euros ($583 million) in the first quarter, the Finnish telecom equipment giant said Tuesday in its first earnings announcement after acquiring its French-American rival Alcatel-Lucent.

The group`s sales fell by eight% in its main network equipment business, but Nokia highlighted in a statement its operating margin increased by 1.7 points to 6.2%.

In comparable figures, the company`s global revenue fell by 9% to 5.60 billion euros ($6.37 billion).

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Nokia`s business of ultrafast networks suffered the most significant decline of 20%, "consistent with our outlook for a greater than normal seasonal decline in the wireless infrastructure market", the company explained.

Nokia said it now possessed 94.64% of Alcatel-Lucent`s shares, approaching the limit of 95% which would allow it to squeeze out the remaining 5% of owners, and gain full control of its former rival.

Nokia, which now concentrates on network equipment after failing to adapt to the rapid rise of smartphones.

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