Finnish telecom firm Nokia in continued loss with decline in networks

Nokia has reported a continued loss in the second quarter with almost flat sales, mainly caused by a 5 percent decline in its core networks business.

The Finland-based networks company says its net loss was 423 million euros ($493 million), less than the 667 million euros a year earlier. Sales in the period grew 1 percent to 5.6 billion euros.

CEO Rajeev Suri on Thursday described “headwinds” in the period and predicted a further drop in the networks sector.

“We now expect a decline in the market in the range of 3 to 5 percent, versus our earlier view of a low-single-digit decline. … We expect our networks sales to perform in line with the market,” Suri said.