Five Companies That Dropped The Ball This Week

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Nokia Takes $1.8 Billion Q1 Gut-Punch, Admits Lumia Sales 'Mixed'

The bad news just keeps coming for Nokia, as the troubled Finnish mobile device maker reported a $1.8 billion loss in its fiscal first quarter.

"We were clearly disappointed with our performance in Q1 2012," said Nokia CEO Stephen Elop during a conference call Thursday announcing the results.

That's not all: Nokia's Lumia 900 smartphone, the Windows Phone device that was supposed to show the world the wisdom behind the Microsoft-Nokia partnership, hasn't been selling as well as expected.

"Doubling the number of Lumia devices sold quarter on quarter is a respectable pace; however, the sales results have been mixed," Elop said on the call.


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