Nokia Announces Q3 2012 Results: Net Sales Was € 7.2 Billion, Operating Loss Was €576 million, 2.9 Million Lumia Sold

Posted on Oct 18 2012 - 10:10am by Editorial Staff

Nokia today announced its results for third quarter 2012. The company reported the net sales of € 7.2 billion, down from € 7.5 billion in second quarter 2012 with an operating loss of € 576 million. Nokia Siemens Networks net sales increased quarter-on-quarter and year-on-year to € 3.5 billion. The Lumia third quarter volumes decreased quarter-on-quarter to 2.9 million units. Mobile Phones Q3 volumes increased quarter-on-quarter to 77 million units; strong sales start for new Asha full touch smartphones, with volumes of 6.5 million units.

Stephen Elop, Nokia CEO, commenting on third quarter results said:

“As we expected, Q3 was a difficult quarter in our Devices & Services business; however, we are pleased that we shifted Nokia Group to operating profitability on a non-IFRS basis. In Q3, we continued to manage through a tough transitional quarter for our smart devices business as we shared the exciting innovation ahead with our new line of Lumia products.

In our mobile phones business, the positive consumer response to our new Asha full touch smartphones translated into strong sales. And in Q3, our mobile phones business delivered a solid quarter with sequential sales growth and improved contribution margin. In Location & Commerce, we made progress establishing our platform offering with customers like Amazon.

This is in line with our plan to expand our location offering to more customers. And, Nokia Siemens Networks had a remarkable quarter in which we achieved record profitability on a non-IFRS basis and the Nokia Siemens Networks cash balance increased for the fourth quarter in a row. While we continue to focus on transitioning Nokia, we are determined to carefully manage our financial resources, improve our competitiveness, return our Devices & Services business to positive operating cash flow as quickly as possible, and ultimately provide more value to our shareholders.”

About the Author

Editorial Staff at I2Mag is a team of subject experts.