Nokia reports $1 Billion loss despite selling 4 million Lumia smartphones

Nokia has sold 4 million Lumia smartphones in Q2 with 600,000 sold in North America but they still reported a 1 billion dollar loss as sales for the company fell 19 per cent against the year ago period. This comes after some Lumia handsets in the US were discounted as a result of Microsoft's recent announcement that the next version of Windows Phone will not be backwards compatible with Nokia's current line of Lumia smartphones.

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