“Nokia reported smaller-than-expected losses for the third quarter on Thursday but warned that there were tricky times ahead as it prepares to launch two new smartphones it hopes can claw back market share from Apple and Samsung,” Ritsuko Ando reports for Reuters.
“The Finnish phone-maker reported an underlying loss before one-off items of 0.07 euros per share compared to a profit of 0.03 euros a year earlier. Analysts had forecast a loss of 0.11 euros in a Reuters poll,” Ando reports. “Net cash came in at 3.6 billion euros ($4.7 billion), down from 4.2 billion in June but ahead of market forecasts of 3.4 billion euros… Sales of the current range of Lumia smartphones fell to 2.9 million from 4 million in the second quarter with significant slowdowns in China as well as Europe. Average selling prices dropped to 160 euros from 186 euros per phone.”
Ando reports, “In a statement, Nokia said the fourth quarter would be challenging as it started to roll out the new Lumias with more marketing than ever before. It said it expected poorer Christmas sales than in previous years.”
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