Q3 Bloodbath: Nokia Hemorrhages $750 Million
October 18, 2012 12:43 PM
comment(s) - last by
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. (
), 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
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. (
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
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
FT [analyst estimates]
This article is over a month old, voting and posting comments is disabled
RE: So They Come Up With a Winning Strategy...
10/20/2012 10:42:00 AM
I support Microsoft because they make a great product. Their products work great for me and I get a lot of the decisions they make. I opposed the ribbon at first then I learned to embrace it. I opposed Windows 8 on the desktop then I learned I like it more than Windows 7. Vista was fine for me I had the hardware so no issue there. If the product isn't great they make good on it. People can complain about their first generation X-Box but Microsoft did the right thing and extended the warranty and offered replacements. My current device might not be upgradable to 8.0 but they offered up 7.8 which is not supposed to degrade the performance of my existing device. I need to upgrade my Windows Phone 7 because I want a 1080P camera with image stabilization not for any other reason Im very happy with the device and its performance on its lowly single core 800mhz processor its fast and responsive and has never crashed, frozen, or needed a battery pull.
Where a company like Apple denies the issues and takes the cheap solution. This started way back with the NVIDIA chipset where Apple cranked up the fan instead of offering a replacement if the hardware died out early. Apples your holding it wrong and don't take pictures that way are not ways to earn my respect. They have a camera solution just roll the lens back to the previous iPhone that worked great. Changing a connector they know people have invested heavily into supporting product and then charging $30.00 for an adapter is just crapping on your community. On one hand because Apple makes so few devices they do offer software upgrades for older hardware however that may degrade the performance of your device forcing you to upgrade.
For Android ALL of my devices either have freezing, weird video issues, and locks up requiring me to hard reset and pull batteries and as for upgrades they are non existant 6 months after the product is sold to me. Not a chance of things better better without having to buy a newer device. Sure the software is getting better but the big name hardware companies selling the hardware give up on software updates almost the day you buy them. Maybe this is due to the number of different devices they sell but the upgrade path is poor and Im tired of the software crashing. The same reason people said they hated Windows back in the 98 and early 2000 days they accept on Android. Android doesnt have the security experience that Microsoft does Im sorry I find too many negatives in going this route. Some day they will get it right but they have convinced me to go with Microsoft.
I owned 3 Apple devices (1 Died, 1 is not used I prefer my Sansas, 1 Apple device is still going strong). Ive been through 6 Android devices only the Nook color is still used with occasional issues and I deal with the wife and her Samsung Android Phone every month for a battery pull. Ive got one Windows Phone that is rock solid and the First opportunity I have to put the wife on Windows Phone 8 Im taking it.
Android had 6 tries to convince me and Im not convinced. I can add work experience too since I work in the Mobile sector but I have other things to do with my life than support.
"A lot of people pay zero for the cellphone ... That's what it's worth." -- Apple Chief Operating Officer Timothy Cook
Quick Note: Verizon Could Sell Lumia 822 for $49 with Contract
October 15, 2012, 8:25 AM
T-Mobile Gets Mid-Range LG Optimus L9 'Droid, Nokia Lumia 810 WinPhone
October 8, 2012, 4:55 PM
Nokia Looks to Sell Gleaming Finnish Headquarters
October 3, 2012, 12:44 PM
Nokia Explains Why You Should Get a Lumia 920 Instead of an iPhone 5
September 20, 2012, 2:58 PM
Nokia SVP Says New Lumia 920 and 820 Aren't the Company's "Last Chance"
September 10, 2012, 9:46 AM
Report: Microsoft's Chinese Offices Raided
July 28, 2014, 9:16 PM
Cell Phone Unlocking Bill Heads to President Obama's Desk
July 28, 2014, 11:58 AM
T-Mobile CEO John Legere is on the Warpath Again; Introduces $100, 10GB Family Plan
July 28, 2014, 10:12 AM
Report: All 15" MacBook Pros to Receive 16GB RAM Standard Starting Tomorrow
July 28, 2014, 8:12 AM
Sony's Xperia Z3 Gets Detailed in Leaked Photos
July 25, 2014, 2:30 PM
Heavy Users of Verizon’s “Unlimited” LTE Data Could Soon See Targeted Throttling
July 25, 2014, 1:52 PM
Most Popular Articles
Ford Details ’15 F-150’s 325hp, 2.7L EcoBoost V6; Demonstrates 732-lb Weight Loss
July 22, 2014, 6:55 PM
Comcast Memo: Harassing Customers During Retention Calls Actually IS Our Policy
July 22, 2014, 5:19 PM
Kindle Fire Phone Review Roundup -- A Solid "Meh"
July 23, 2014, 2:09 PM
Windows 9 Will Merge Windows, Windows Phone, Windows RT in 2015
July 23, 2014, 3:33 PM
Russia Looks to Counter U.S. Sanctions With Bill Targeting American Tech Firms
July 22, 2014, 3:49 PM
Latest Blog Posts
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
Facebook Aims to Provide Internet to "Every Person in the World" with Drones, Satellites
Apr 1, 2014, 10:20 AM
Retail Mobile Sites Experience Outages in Light of Simplexity's Bankruptcy
Mar 14, 2014, 8:48 AM
Tesla vs. BMW: Who Has the Safer EV?
Feb 1, 2014, 2:56 PM
Justice Leaks Details of Next HTC One Two Flagship Phone
Dec 5, 2013, 4:04 PM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information