Feeds

Nokia still in the red in Q3 sales bloodbath

Windows mobes couldn't come soon enough

The essential guide to IT transformation

Microsoft newlywed Nokia stayed in the red with an operating loss of €71m (£62m) in its third quarter ended 30 September 2011.

That's a smaller figure than the company's Q2, when Nokia lost a gigantic €487m (£425m), which CEO Stephen Elop at the time blamed on its new strategy bringing with it "ambiguity" for the firm's customers reeling from the Microsoft tie-up.

The Finnish handset maker, which struck a deal with Redmond in April to build several Nokia Windows phones together, shipped 18 million dual-SIM devices during the quarter.

Smartphone sales dropped 38 per cent, with the company shifting 16.8 million devices that were based on Nokia's old Symbian platform.

Elop said that the company's "channel inventory situation" and "sales execution" had improved in Q3.

However, total sales tumbled 13 per cent to €8.98bn compared with €10.27bn for the same period a year earlier.

"I am encouraged by the progress we made during Q3, while noting that there are still many important steps ahead in our journey of transformation," said Elop.

"With each step, you will see us methodically implement our strategy, pursuing steady improvement through a period that has known transition risks, while also dealing with the various unexpected ups and downs that typify the dynamic nature of our industry.

"During the third quarter, we continued to take the action necessary to drive the structural changes required for Nokia's long-term success."

Nokia is expected to launch its first Windows-based handset next week, but volume shipments of the devices won't appear until 2012.

Shares in the firm rallied more than 10 per cent to €4.9, following Nokia's Q3 announcement, its best stock exchange performance in months.

The full results are here. ®

Next gen security for virtualised datacentres

More from The Register

next story
BBC: We're going to slip CODING into kids' TV
Pureed-carrot-in-ice cream C++ surprise
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
Twitter: La la la, we have not heard of any NUDE JLaw, Upton SELFIES
If there are any on our site it is not our fault as we are not a PUBLISHER
Facebook, Google and Instagram 'worse than drugs' says Miley Cyrus
Italian boffins agree with popette's theory that haters are the real wrecking balls
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
Facebook to let stalkers unearth buried posts with mobe search
Prepare to HAUNT your pal's back catalogue
Ex-IBM CEO John Akers dies at 79
An era disrupted by the advent of the PC
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?