Print 70 comment(s) - last by T2k.. on Oct 23 at 4:07 PM

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]

Comments     Threshold

This article is over a month old, voting and posting comments is disabled

RE: So They Come Up With a Winning Strategy...
By Mitch101 on 10/18/2012 6:02:24 PM , Rating: 3
In the United States yes but elsewhere it is growing.

In Italy, Windows Phone achieved a 10.4% share in the 12 weeks to 2 September 2012, the first time the platform has hit double digits for market share in a single country .

Across the "big five" EU countries – the UK, Germany, Italy, Spain and France – Windows Phone now shows a 5% share, up one point from a year ago

In Brazil it had 47.1% of sales, compared to 19.6% a year ago – and zoomed past Symbian, which last year had 64.5% of sales for the 12-week period. That has dropped to 26.7%, although Windows Phone has jumped to 12.2% , suggesting that Nokia has a total market there of 38.9% – almost certainly bigger than any single rival.

Kantar in July confirmed that Australian Windows Phone sales now made up almost 5% of new devices sold, versus the same period 12 months earlier of 2.1%!

VERIZON - 111.3million subscribers - Now getting Windows Phone

China Mobile has 655 million subscribers and is the biggest carrier in the world, and tellingly has still not agreed to carry the iPhone , certainly a helpful advantage for Nokia Lumia 920T sales.

RE: So They Come Up With a Winning Strategy...
By retrospooty on 10/18/2012 7:36:26 PM , Rating: 1
Listing a few countries here and there means nothing. Look at one figure - global sales. This means everything. Its not growing. At least not up until the latest #'s, it actually surprisingly shrank, which was kind of a head scratcher.

By Mitch101 on 10/19/2012 9:26:32 AM , Rating: 2
Are you completely overlooking the two largest carriers that are going to be carrying the Windows Phones?

"It's okay. The scenarios aren't that clear. But it's good looking. [Steve Jobs] does good design, and [the iPad] is absolutely a good example of that." -- Bill Gates on the Apple iPad

Copyright 2016 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki