Q3 Sees Nokia Sales Fall 20%


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Nokia LogoMobile phone manufacturer Nokia has just announced its financial results for the third quarter of this year, which saw net sales of EUR 9.8 billion. However, according to Nokia these net sales have dropped by 20% when compared to the figures of this time last year, and 1% when compared to the second quarter of this year. Nokia has registered an operating loss of EUR 426 million for the quarter, with the company’s non IFRS operating profit hitting EUR 741 million – impressive, but a dismal 58% lower than that of this time last year.

Nokia has also announced that it shipped roughly 108.5 million mobile phones, which is around 8% less than in the third quarter of 2008, but still up 5% from the second quarter of this year. The company’s market share for this years third quarter is estimated to have been about 38%, the same as this time last year. According to the company, the whole mobile phone market at the time consisted of 288 million devices, which itself was a whole 7% less than in the third quarter of 2008.

The company says that it registered Devices and Services net sales of EUR 6.9 billion for the 3 month period, down by 20% from the previous year, but gaining 5% on the last quarter.

These losses are in line with the global recession, as are the small gains that we are beginning to see. The mobile phone industry is thought to be on the way up as the economic situation around the world improves, and next year we can likely look forward to see Nokia post better financial results.

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