Nokia warns of 2012 transition as sales slump 21%

01/25/2012 | Wall Street Journal, The · Reuters

Nokia's new line of Lumia phones may have been well-received, but they aren't resulting in any immediate bump to the cellphone-maker's bottom line. The company warned that 2012 would be another challenging year after reporting a 21% decline in fourth-quarter revenue from the year-earlier period, as charges and write-downs -- along with lower sales prices per device -- dragged on profits. CEO Stephen Elop said Nokia had sold more than 1 million of the Windows Phone-powered Lumia handsets since their mid-November debut. Overall mobile-handset shipments, however, declined 8% in the fourth quarter, the company said.

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Wall Street Journal, The · Reuters

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