On Monday, Nokia (NYSE: NOK) said it had recorded an impairment loss of 514 million euros ($572.24 million) after selling its submarine networks business ASN.
In June, the Finnish network equipment maker sold the segment to the French state for 350 million euros but said the deal would not impact its financial outlook.
From the second quarter, the business will be presented as a discontinued operation, Nokia said in a statement. It was previously reported as part of the Network Infrastructure operating segment in which Nokia expected a reduction of sales by 1 billion euros.
($1 = 0.8982 euros)
(Source: Reuters)
Kevin Putnam is a financial journalist and editor based in New York. He specializes in editing news and analysis related to U.S. stock market.
