Nokia files 2011 in deep red, but Stephen Elop, the CEO imposing a painful restructuring, swears that the change has already begun. Last year the Finnish multinational recorded a loss of 1,2 billion euros, against the net profit of 1,8 billion achieved the previous year. In the fourth quarter, the net loss was 745 million (1,07 billion in the same period of 2010).
In net sales also declined, dropped by 21% in the final part of the year to 10 billion, while for the full year the drop was 9% to 38,66 billion.
Elop, however, sees the last quarter in a different light, calling it “a significant step in Nokia's transformation. We went in the right direction in 2011, but we still have a lot to achieve in 2012 and so my assessment is that we are in the heart of the transition”.
Elop, who last February announced the phase-out of its proprietary Symbian platform in favor of an alliance with Microsoft, said he was pleased with the launch of the first Nokia handsets using Microsoft's platform, the Nokia Lumia 800 and Nokia Lumia 710.
