News Summary: Nokia loss widens

The Associated Press
FILE- In this Thursday, June 14, 2012, file photo, an Indian shopkeeper selling Nokia mobile phones awaits customers in New Delhi, India. Nokia's net loss more than tripled in the second quarter the company reported Thursday July 19, 2012. (AP Photo/Tsering Topgyal, File)

THE RESULTS: Nokia's net loss nearly quadrupled in the second quarter on sagging sales of smartphones, a market in which the company is struggling to regain ground lost to rivals including Apple and Samsung.

GOOD NEWS: Sales of low-end phones buoyed revenue, while shipments of the new Lumia phones, which run on Windows software and will replace the older smartphone models, were not as bad as feared.

LOST DOMINANCE: The Finnish company was the world's leading mobile phone maker for more than a decade but was overtaken by Samsung in the first quarter, according to research firm Gartner.