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. ®

Boost IT visibility and business value

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
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.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
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.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.