Nokia Ireland revenues continue to plummet

In accounts filed by Nokia (Ireland) Ltd with the Companies Office for the year to Dec 31, 2012, revenues plummeted 37%, from €90m to €56.2m. 

The figures show that the phone firm recorded a pre-tax profit of €447,000 in 2012, following a pre-tax loss of €1.65m in 2011. 

The company achieved the return to profit as administrative expenses fell from €7.2m to €2.7m and the cost of sales fell from €84m to €52.5m. 

However, the slide in revenues in 2012 continued the trend of recent years as the Finnish phone company struggled to compete with new offerings from Apple and Samsung. 

An examination of Nokia Ireland’s accounts since 2008 show that the size of its business has fallen by 79% over the five years. 

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