HELSINKI, Oct 27, (APP/AFP) – Finnish telecom equipment giant Nokia said Thursday it has managed to reduce losses but remained in the red in the third quarter after acquiring its former rival, French-American Alcatel-Lucent. The world’s former number one in handsets, which turned into a telecom equipment maker, reported a net loss of 125 million euros ($135 million) in the third quarter after a 665-million-euro loss in the previous quarter ($725 million). Thanks to the Alcatel-Lucent acquisition, the company’s net sales grew by nearly 94 percent to 5.89 billion euros from 3.04 billion for Nokia alone a year before (to $6.43 billion from $3.32 billion). Nokia’s chief executive Rajeev Suri described the results as solid “despite market conditions that are softer than expected”.
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Nokia reduces losses as merger with rival proceeds
