Nokia reports steep loss, stronger cash than feared

Nokia reported a steep loss for the second quarter as the Finnish mobile phone maker lost further market share to Apple and Samsung Electronics, but its cash position was stronger than markets feared.

Nokia reported an adjusted loss per share of 8 euro cents, compared to the market's average forecast of 9 euro cents. Its net cash at the end of the quarter was 4.2 billion euros, compared to the market's forecast of 3.7 billion.

It said it sold 4 million Lumia phones with Microsoft's Windows software, in line with the market's forecast.