Revenues at Nokia Ireland plunge 55%

The Irish arm of Nokia went into the red in 2011 as revenues more than halved in the face of increased competition from Apple and Samsung.

Accounts just filed by Nokia Ireland Ltd with the Companies Registration Office show that the firm’s revenues plummeted by over €109m or 55% from €199.8m to €90.1m in the 12 months to the end of Dec 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 in 2011 that followed a pre-tax profit of €6.3m in 2010 — a negative swing of €7.9m.