- Associated Press - Thursday, July 19, 2012

HELSINKI (AP) - Nokia’s net loss more than tripled in the second quarter on sagging sales of smartphones, a market in which the company is struggling to regain ground lost to rivals including Apple and Samsung.

Nokia posted a net loss of (EURO)1.41 billion ($1.72 billion), compared with a loss of a (EURO)368 million in the same period last year. Overall sales were down 19 percent to (EURO)7.54 billion, while smartphone sales dropped 34 percent to (EURO)1.54 billion.

The Finnish company was the world’s leading mobile phone maker for more than a decade but was overtaken by Samsung in the first quarter according to research firm Gartner.

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