Finnish mobile phone maker Nokia on Thursday posted
a loss of $1.73 billion (1.41 billion euros) in the second quarter, as it struggles to fend off tough competition from rivals Apple Inc and Samsung Electronics.
Nokia shares went up 10 per cent after the results were announced.
The figure was higher than the 368-million-euro loss it posted over the same period last year.
Revenue fell 19 percent to 7.54 billion euros.
"Nokia is taking action to manage through this transition period," chief executive Stephen Elop said in a statement.
He said Nokia sold 4 million units of its Lumia smartphone in the second quarter. Nokia is hoping that its Lumia models will help fend off competition from market leaders Apple and Samsung.
"Nokia expects the third quarter 2012 to be a challenging quarter in Smart Devices due to product transitions," Elop said.
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