Nokia is Losing Another Battle in this Huge Market

For the second year in a row, the Finnish phone maker Nokia (NYSE:NOK)  has reported a decline in revenue from India. The corporation’s revenue decreased to 2,227 million Euro last year as a result of currency fluctuation and increased competition. Even though India is the second largest market for Nokia, after China, the company reported a 23 percent decrease in revenue from 2,923 million at the end of 2011. In 2010, Nokia’s revenue from India was Euro 2,952 million.

A spokesman for Nokia stated that ”The year 2012 was one of transition for Nokia. While the first half of the year was challenging, our execution against a focused business strategy started to translate into financial results in the final three months of the year.”

The spokesman for the company also said that the sales numbers included figures for cumulative revenue, including data for Here, devices, and infrastructure, which is Nokia Siemens Networks.