Nokia’s head of sales steps down after it reports $1.7B first quarter loss

The tough times continue for Finnish phone giant Nokia, which has struggled to keep up with Apple and Android in the smartphone era. Today the company announced its results for the first quarter of 2012. Net sales fell sharply year over year from $13.6 billion to $9.7 billion. The company took a $1.7 billion loss on those sales, and Colin Giles, the head of sales, stepped down after 20 years at the company.

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Nokia defeats Apple in major patent dispute

Nokia on Tuesday announced that Apple had agreed to pay a one-time settlement and continuous license fees for patents that Nokia owns, ending a legal battle that started in 2009. Both companies will also retract all prior complaints from the U.S. International Trade Commission.