http://www.blogcdn.com/www.engadget.com/media/2012/10/nokiahq-1350494702.jpg Q4 2011: $1.3 billion loss](Nokia releases Q4 2011 earnings report: operating profits drop, Lumia sales break one million). Q1 2012: $1.7 billion loss](http://www.engadget.com/2012/04/19/nokia-q1-2012/). Q2 2012: $1.01 billion loss](Nokia's Q2 2012 financials: 4 million Lumias sold, $1.01 billion dollar loss). Nokia’s last three financial quarters haven’t made pleasant reading for anyone with fond memories of the company’s handsets. That trend, however, may finally be reversing after Nokia reporting an operating loss of just €576 million ($754 million). While Stephen Elop’s financial measures are finally having an effect, the company has had to deal with a slowdown in Lumia sales, which fell from four million last quarter to 2.9 million this – but given that the company is at the end of one product cycle, that’s hardly surprising. Nokia had better news to report in its mobile phone business, where it sold 77 million units including the new full-touch Asha models, which sold 6.5 million on their own. While the company’s burgeoning location and commerce department had a difficult quarter, the sale of map content licenses offsetting the decline in GPS device sales. Nokia Siemens Networks, on the other hand, kept raking in the cash with a $238.5 million profit. The company’s managed to stabilize its cash in bank reserves too, with the company mattress containing $4.66 billion.
Developing…
Filed under: Cellphones, Mobile, Microsoft, Nokia
Nokia’s Q3 2012 financials: Declining Lumia sales, but losses trimmed to just $754 million originally appeared on Engadget on Thu, 18 Oct 2012 06:01:00 EDT. Please see our terms for use of feeds.
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