There’s not much to cheer about in quarterly results from mobile phone giant Nokia that included an unexpected net loss of $834 million (the first since Nokia started reporting quarterly results in 1996) and a nearly 20% decline in revenues year-over-year. That’s €2.43 billion less on the top line, or $3.62 billion at today’s exchange rate. Investors were certainly in no mood to celebrate: By late afternoon in Helsinki trading, Nokia shares were down nearly 9%, to €9.41, and they plunged more than 10% in New York in the morning.



And this is way Nokia is a lier.