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.

Thread beginning with comment 575785
To read all comments associated with this story, please click here.
what's left of nokia if you remove phones?
by NuxRo on Wed 30th Oct 2013 07:24 UTC
Member since:

So the phones are loosing money but otherwise Nokia "proper" is doing great. Are they back in the boots business?

Reply Score: 4

Nelson Member since:

The other half of the company. Mapping, network infrastructure, and the AT division which focuses on forward facing projects. And a boatload of weaponized patents.

Reply Parent Score: 3

glarepate Member since:

Except the other 'half' of the company is 3 quarters of it ; the other 3 divisions that make up Nokia.

Reply Parent Score: 1