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"
Member since:

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.

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?

Reply Parent Score: 6

RE[2]: Comment by Nelson
by Nelson on Tue 29th Oct 2013 18:57 in reply to "RE: Comment by Nelson"
Nelson Member since:

They're so uninterested they consistently make bad calls? That's a new one.

I get made out to be a shill, a troll, an astroturfer, etc but quarter after quarter it is my predictions which stand out as being on the mark. Every time.

Reply Parent Score: 3

RE[3]: Comment by Nelson
by tylerdurden on Tue 29th Oct 2013 19:13 in reply to "RE[2]: Comment by Nelson"
tylerdurden Member since:

*snif* They grow up so fast, it was not long ago you couldn't parse Nokia's own financial statements correctly, and now you're an "expert."


Reply Parent Score: 2

RE[3]: Comment by Nelson
by Thom_Holwerda on Tue 29th Oct 2013 19:43 in reply to "RE[2]: Comment by Nelson"
Thom_Holwerda Member since:

I predicted Nokia would not make it with Windows Phone.

I was right.

They had to sell their devices division to Microsoft.

Reply Parent Score: 8

RE[3]: Comment by Nelson
by No it isnt on Tue 29th Oct 2013 20:13 in reply to "RE[2]: Comment by Nelson"
No it isnt Member since:

But you are a shill. You show all kinds of positive results and predictions for Nokia, except the ones that actually matter: will they survive? Well, they didn't.

And still, you're technically right.

Reply Parent Score: 5