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Nokia 'may have lost more than a billion dollars in the last three months'

18 October 2012 Last updated at 10:50 BST

The Finnish mobile phone maker Nokia is expected to report further dire losses later today.

Analysts say the business may have lost more than a billion dollars in the last three months. That would be a slight improvement on the previous quarter but Nokia's shares have halved in value within the last year as sales of even its newest models collapse.

Nokia argues that part of its strategy is selling cheaper smart phones to developing countries.

Brian Milligan reports