Nokia continues to report losses in quarter ended 30th September 2011. The company reported net sales of EUR 8.980 billion for the quarter, down 13% year-on-year and 3% sequentially, and its operating losses were at EUR 71 million in contrast to operating profits of EUR 403 million, that it registered in Q3-2010. Nokia CEO, Stephen Elop says that he was encouraged by the progress that the company made in Q3 and coninued to take decisions related to structural changes required for Nokia's long-term success. He said that the Q3 results indicate that Nokia's sales execution and channel inventory situation have improved. He added that the first Windows devices will be launched in select markets later in the quarter and subsequently in other markets by next year. The devices and services segment business of handset major Nokia contributed EUR 5.3 billion to net sales for the quarter ending September 30th 2011, down 25% year-on-year and 1% sequentially. The segment reported operating profits of EUR 132 million compared to operating profits of EUR 807 million that the company reported in the same quarter, last year. Smartphone sales decreased by 39% Year on Year and 7% Quarter on quarter, while mobile phone sales (other than smart phones) witnessed a decline of 14% YoY and an increase of 14% QoQ. Gross margin for the devices and services segment declined to 2.4%, from 11.3% in Q3-2010. IPR Royalties were also included in the net sales under this segment, which contributed EUR 70 million. Download: Earnings Release | Presentation Devices & Services - Device Sales: Effective April 1,2011, Devices & Services…
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