Nokia posts $1 billion operating loss

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The beleaguered phone maker Nokia reported today a $1 billion operating loss on $9.23 billion in net sales in the second quarter.

Analysts expected a loss of 340 million euros ($420 million) on revenue of 7.53 billion euros ($9.27 billion). Nokia reported net sales of 7.5 billion euros ($9.23 billion), up from 7.4 billion euros ($9.11 billion) in the first quarter.

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