Nokia delivers mixed results

MOBILE phone maker Nokia yesterday reported a 22 per cent drop in year-on-year revenues to €11.5bn (£9.9bn) for the first half of 2013, despite strong sales of its flagship Lumia smartphone.

The Finnish firm also said its net losses contracted to €227m in the second quarter, from €1.41bn in the same period last year, as it cut costs.

Lumia sales surged 32 per cent in second quarter compared to the same period last year, reaching a record 7.4m units, but still failing to drive the handset business turnaround that chief executive Stephen Elop has been hoping for.

Shares in the firm fell 2.8 per cent yesterday to close at €3.01.