Nokia's Irish sales plummet by 55pc
THE Irish arm of Nokia went into the red in 2011 as sales tumbled due to competition from smart phones made by Apple and Samsung.
Nokia Ireland's most recent accounts show that sales plummeted 55pc to €90.1m in 2011.
The dramatic drop in sales in Nokia's mobile phone handsets here contributed to the Finnish-owned firm recording a €1.65m pre-tax loss following a pre-tax profit of €6.3m in 2010. "Net sales and profitability were negatively impacted by the increasing momentum of competing smart phone platforms relative to Nokia Symbian smartphones," the company said in its accounts.
"The level of business for the financial year was seriously impacted by the competitive environment and the challenges faced by the Irish economy," it added.
The directors added that "the company also made a number of employees redundant during the year to align its operations with the new strategy that was announced during 2010".
The documents show that the firm's new strategy also brought an overhaul to the board of Nokia Ireland with the firm's three directors, Killiney-based business executive, Roy McCarthy, Alan O'Hara from Stepaside, Dublin, and UK-based Edward Morris stepping down.