Nokia: red in the second quarter, but the group is starting to make progress

Further drop in sales for Nokia: the telecommunications giant closed the second quarter in the red, recording an operating loss of 487 million, while in the same period last year it had achieved an operating profit of 295 million. Total turnover fell by 7 percent, from 10 to 9,275 billion euros. EPS reported a loss of 0,10 cents per share, compared to profits of 0,06 euros in the second quarter of 2010. Nokia is carrying out a complex transition phase in the smartphone segment. The Finnish group, in fact, is switching from its Symbian operating system, used for years, to Windows Phone, as part of the wide-ranging alliance with Microsoft. However, the managing director Stephen Elop, in a press release, explained that on Nokia's activities "the first positive effects are starting to be seen" after the measures adopted to contain the impact of the transition phase. After initial uncertainties, investors began to value recent developments and in the early afternoon in Helsinki, Nokia shares were up 1,03 per cent to 4,12 euros.