Nokia Q3 2009 results, converged device shipments slip slightly

Nokia has released their Q3 2009 results, reporting an operating loss of EUR 426 million, but this was primarily due to a write down in the value of Nokia Siemens Network. Nokia's device and service division's profits were EUR 785 million, up 3% from the previous quarter, but down 50% year on year. Converged devices sales (smartphone) were down slightly (though up year-on-year) at 16.4 million, compared with 15.5 million units in Q3 2008 and 16.9 million units in Q2 2009. As such, converged device volumes were, perhaps, lower than expected.

Olli-Pekka Kallasuvo, Nokia CEO, said:

"The demand for mobile devices improved in many markets during Q3. With the average selling price of our devices holding firm quarter-on-quarter, our higher device volumes translated into increased net sales in our Devices & Services business. Our volumes and net sales were, however, somewhat constrained by component shortages we encountered across the portfolio. I also want to highlight the good operating expense management that helped the segment deliver solid earnings.

The challenging competitive factors and market conditions in the infrastructure and related services business necessitated non-cash impairment charges at Nokia Siemens Networks. We continue to support Nokia Siemens Networks actions to improve its performance."

 

Points of interest

Notes from the conference call

See also

Nokia Results

Earlier results: Q2 2009, Q1 2009, Q4 2008, Q3 2008, and Q2 2008

Published by Rafe Blandford at 11:08 UTC, October 15th

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