Nokia Posts Big Loss, But Not Because Of Mobile Phones Business

Oct 15 2009, 7:05am CDT | by Luigi Lugmayr

Nokia announced their Q3 numbers today and stunned with a 559m Euro (~$835 million) loss.
Nokia had to take big one-off charges and impairments on Nokia Siemens Networks unit.

The Phone business is down for Nokia as well compared to last year, but that was expected. Nokia’s net sales of EUR 9.8 billion (~$14.5 billion) are down 20% compared to last year's Q3. The number of mobile device volume was 108.5 million units which is down 8% compared to last year, but the market share of 38% stayed the same. Nokia expects industry mobile device volumes in the fourth quarter 2009 to be up and their market share to stay stable.
Nokia published their Q3 numbers in this pdf. The photo shows the new hot Nokia N900 Linux phone available for pre-order on Amazon.com.

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Luigi Lugmayr
Luigi is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.