The mobile phone giant swung to a Q2 loss of $523 mil, as it continued to lose share to high-end smartphone rivals like Apple's iPhone and low-end Asian producers. Revenue fell 7% to $13.3 bil. Nokia (NYSE:NOK - News) was recently passed by Apple (NASDAQ:AAPL - News) as the top smartphone maker. It remains the overall No. 1 cell phone maker, but Q2 shipments fell 20% to 88.5 mil. Nokia plans to speed a cost-cutting program. Shares rose 5.9%.
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