Linked by Thom Holwerda on Tue 29th Oct 2013 15:04 UTC
PDAs, Cellphones, Wireless

Nokia has just announced its Q3 2013 financial results, revealing an operating profit of EUR118 million ($162 million) from EUR 5.66 billion ($7.8 billion) revenue. That's up massively year over year, but nonetheless represents another quarter of middling results. The report is the first since Microsoft agreed to purchase Nokia's phone business, and that division - Devices and Services - performed as expected, posting a small loss of EUR 86 million ($118 million).

So, Microsoft is buying the part of Nokia that is losing money, while the parts that make money remain in Finland. Seems like a good deal for Nokia-proper. In the meantime, Microsoft will be saddled with a devices division that is still losing money, and whose increase in sales consists largely of low-end, low-margin devices (like the 520). Interesting - especially since Windows Phone was supposed to prevent Nokia participating in a race to the bottom. I'm sure Microsoft's super-successful Surface division welcomes Nokia's devices division.

The cold truth: even more than 2.5 years after announcing the switch to Windows Phone, Nokia's Lumia range still cannot make up for drop in sales of Symbian devices and feature phones. This is roughly the same timeframe in which Samsung rose to the top. With Android.

Read into that what you will.

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RE: Comment by Nelson
by M.Onty on Tue 29th Oct 2013 17:18 UTC in reply to "Comment by Nelson"
M.Onty
Member since:
2009-10-23

Just wanted to point out I called the volumes for this quarter with 100% accuracy. As in exactly what I predicted would happen did happen. Exactly. Down to the percentage increase.

http://www.osnews.com/thread?575084

I called for a little less than 9 million and ~20% sequential growth in my analysis. Just something to keep in mind before the Always Wrong Club shows up.


Might I suggest the Always Uninterested In Exact Financial Predictions About a Once Great Handset Maker Club as a more precise, if less succinct, name?

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