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Nokia posts loss as phone sales fall in Q3
Nokia suffered an operating loss of 576 million euros in the third quarter as smartphone sales continued to disappoint.
Net sales for the company fell 19 percent YoY,, to a total to 7.2 billion euros. “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,” CEO Stephen Elop said.
The company sold 82.9 million handsets in the quarter, down 22 percent, and revenue from devices and services fell by 34 percent compared to the same period last year.
