Nokia The phone company reported a first-quarter loss of €1.57 billion euros, down from year-earlier profit of €231 million. "We are navigating through a significant company transition in an industry environment that continues to evolve and shift quickly," CEO Stephen Elop said in a statement. "Over the last year we have made progress on our new strategy, but we have faced greater than expected competitive challenges." Share of Nokia fell 3.02% in premarket trading Thursday to $3.85. TheStreet Ratings gives Nokia a C- grade and hold rating. -- Written by Alexandra Zendrian >To contact the writer of this article, click here: Alexandra Zendrian >To submit a news tip, send an email to: firstname.lastname@example.org. >To follow the writer on Twitter, go to Alexandra Zendrian.