Stephen Elop's sale of Nokia's device division to Microsoft was a colossal mistake for both companies, writes Juha Saarinen. Photo / Getty
Microsoft has announced a net loss of $US3.19 billion (NZ$4.8b) in the past quarter, blaming a hefty writedown on the smartphone business it acquired from Nokia.
The US tech giant confirmed the loss on Tuesday.
Earlier this month it announced a $7.5 billion charge to write down the value of
the smartphone operations acquired last year from the Finnish group.
Read also:
• Nokia's colossal mistake
• Microsoft to cut 7,800 jobs as phone sales sag
Meanwhile, Yahoo says it lost $US22 million (NZ$33m) in the second quarter but that revenues grew as the internet pioneer refocused its efforts on mobile and other growing sectors.
