Nokia Q3 results are out: phone sales declining, operating loss

Nokia Q3 results are out: phone sales declining, operating loss

Nokia reported its Q3 performance and sales were down across the board. Compared to their Q2 performance, however, things are starting to look up. Q3 should be Nokia's last quarter without Windows Phone handsets in the mix - the company is at a "make it or break it" point, with its future laying in the basket of Microsoft's mobile OS.

Let's go over the figures - net sales for Nokia's Devices & Services department were down 25% Year-on-Year (YoY) and down 1% sequentially. This resulted in operating profit going down 84% YoY to €132 million. Much better than the €247 million loss from the previous quarter, but the company as a whole still posted an operating loss of €71 million.

Total number of Nokias sold for the quarter was down 3% since last year, with smartphones taking a big 38% hit, while feature phones were actually up 8% YoY.

The Average Selling Price for Nokia phones in general fell - their feature phones now go for €32 on average (note that Nokia is selling €20 or so phones in droves). Smartphones go for €131 on average, down from the €133 ASP of last year.

source: gsmarena.com