Nokia hires new CEO after tough first quarter

Nokia names Rajeev Suri new CEO in bid to revive fortunes

Nokia revealed poor first quarter earnings, a new company CEO, and a revamped plan for the future just a few days after signing over its handset business to Microsoft. In the first three months of 2014, the struggling tech company's revenue fell to $3.7 billion—a whopping 15 percent loss over Q1 2013.

To make matters worse, Nokia had $452 million in operating losses, compared with $166 million last year. Its handset division, now under Redmond's care, also dropped 30 percent to $2.6 billion, a loss that could have been avoided, Nokia said, if not for the delayed Microsoft deal, which would have earned the Finnish company a windfall in March.

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Amanda Ciccatelli

Amanda G. Ciccatelli is a Contributing Writer for InsideCounsel, where she covers the patent litigation space. Amanda earned a B.A. in Communications and Journalism from...

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