But trouble phonemaker does manage to be the street's pessimistic predictions
Generally it's a sign that things are looking fairly dire when a company goes to sell its headquarters. And for embattled Finnish phonemaker Nokia Oyj. (HEX:NOK1V), another quarter has come and gone with news of a fresh round of financials [PDF] which, on the surface, look very ugly.
Nokia made €7.24B (~$9.49B USD) in revenue over the quarter, down 4 percent from last quarter and 19 percent from last year. But there was a bit of good news. Of 23 analysts surveyed by The Financial Times (UK), the average expectation was revenue of €6.93B (~$9.08B USD). In other words things look very bad, but not quite as bad as the gloomy estimates lofted by the street.
Also in the good news category, Nokia managed to move 2.9 million Lumia (Windows Phones) in the quarter, despite an impending update to Windows Phone 8 on the horizon (which will not support current handsets). That's down approximately a quarter from the 4 million moved in Q2, but, again, even the most successful smartphone companies like Apple, Inc. (AAPL) see similar dips at the end of their product cycle.
In the losses category, Nokia reduced its €826M ($1.08B USD) loss (Q2) to €576M ($755M USD) (Q3). Losing three-quarters of a billion dollars in a quarter is bad by any measure, but the trimmed loss does offer some signs of hope for Nokia.
Nokia rebuts the argument that Windows Phone 8 and the Lumia 810/820/822/920s are its "last chance" at remaining relevant in the smartphone argument. However, the sustained quarters of large losses would certainly seem to suggest that time is running out for Nokia -- once the world's largest smartphone maker -- to win customers back.
Sources: Nokia, FT [analyst estimates]
"We don't know how to make a $500 computer that's not a piece of junk." -- Apple CEO Steve Jobs
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