Reuters: Nokia Q3 2012 Interim ReportOctober 18, 2012 No Comments
The numbers are in, and they are not pretty. $754 million (€576) operating loss on $9.5 ((€7,239) billion in net sales. Their outlook for the fourth quarter which includes the holiday season is bleak, even light that it is usually a great time for phone manufacturers. The numbers are bad and they don’t expect them to be much better next quarter.
Here are some some notes of what they are forecasting for the next quarter:
“-competitive industry dynamics continuing to negatively affect the Smart Devices and Mobile Phones business units”
“- Nokia expects the fourth quarter 2012 to be a challenging quarter in Smart Devices, with a lower-than-normal benefit from seasonality in volumes, primarily due to product transitions and our ramp up plan for our new devices.”
During the 3rd quarter Nokia shipped 6.3 million Smart Devices, of which approximately 2.9 million were Lumia phones. We hope that with the upcoming launch of the Lumia 920 & 820 that Nokia can turn this around and have a better quarter than even they are expecting because results like this cannot continue to come out of Finland.