Nokia lowers 2nd quarter losses

Stockholm: Finnish telecommuni-cations equipment maker Nokia on Thursday said it remained in the red in the second quarter but that it had lowered its losses. The quarterly net loss of 267 million euros ($313 million) compared to a net loss of 423 million euros in the same period a year ago. Net sales declined by 5 per cent year-on-year and were worth 5.3 billion euros. Measured on a constant currency basis, Nokia said sales would have been down 1 per cent year-on-year. The results were “consistent with our view that the first half of the year would be weak, followed by an increasingly robust second half,”chief executive Rajeev Suri said. — DPA