Nokia posts Q3 losses, keeps them under $1 billion

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Nokia has posted its third quarter results and while the company has seen a loss, as was expected, this quarter marks the first time in a year that the company has confined those losses to under $1 billion.

Though this is the sixth loss in a row for the Finnish company, losses are below the Q2 results ($1.01 billion) and substantially under the Q1 2012 results ($1.7 billion), coming in this quarter at only $754 million. This reduced total is in spite of a slowing down of Lumia sales, which have dropped over the quarter from 4 million to 2.9 million units sold. This reduction was somewhat made up for with sales of other featurephones and other handsets outside the smartphone arena, which are up from 73 million to 77 million in Q3.

The company current has $4.66 billion in reserve, thanks to reduced spending and its Microsoft partnership, and Windows Phone 8 and the release of the new Lumias will likely see Nokia’s fortunes swinging. The direction of the swing is what is important.. Based on the company’s recent performance, they have a shot at regaining at least some of their market dominance.

Source: Engadget

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