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FIH Mobile FY revenues grow 23.6%, but losses widen as Nokia business weighs

2019-03-06 13:52:00| Telecompaper Headlines

(Telecompaper) FIH Mobile saw its revenues for 2018 grow 23.6 percent to USD 14.9 billion, while the net loss widened to USD 857 million from USD 525 million in 2017. The phone manufacturer said it benefited from growing sales of Nokia-brand phones under its deal with HMD Global, but margins remained poor on the Nokia devices and it was forced to write off goodwill from the investment. Losses are expected to continue in 2019, but the operating loss in H1 should be smaller than a year earlier due to cost-cutting efforts.

Tags: business mobile grow nokia

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