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: Buring Hinderburg
By augiem on 10/19/2012 2:13:55 AM , Rating: 1
Nobody's going to censor me.

Why this hopeful tone for Nokia who lost $750 million in this quarter when you are repeatedly posting that burining Hindenburg with RIM photoshopped on it when RIM lost only $235 million this quater (compared to $518m last)? RIM is actually closing the loss gap faster than Nokia.

(BTW, I think your use of the Hindenburg over and over in this context is very distasteful considering the nature of the tragedy. Do you want to see 911 used this way in 75 years time? And, no, I do not and never have owned a Blackberry phone.)

RE: Buring Hinderburg
By iamkyle on 10/20/2012 3:12:34 AM , Rating: 2
This is starting to get stupid.

Seriously DT readers, what exactly do you have against RIM? Nokia hemorrhages money left, right, and centre but gets nowhere near the negative press you keep heaping on RIM?

What gives besides crappy journalism?

"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