Nokia reports €118m in Q3 operating profit

29 Oct 20131 Share

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Nokia's Lumia 925

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Smartphone maker Nokia has reaped €118m in third-quarter operating profit from €5.66bn in revenue, in its first financial results since the news Microsoft is to acquire its phone business.

That Devices and Services division posted a loss of €86m, but Nokia’s range of Lumia phones led to a record 8.8m sales for the quarter. The figure reflects an increase from the 7.4m Lumia smartphones sold last quarter, and from 2.9m in the year-ago quarter.

Sales of non-Lumia devices, however, dropped year-over-year, amounting to 55.8m in the third quarter, compared to 53.7m sold in the last quarter and 76.6m sold in the same period last year.

Risto Siilasmaa, Nokia chairman and interim CEO, said the company’s strategy is making good progress.

“It has already become clear that there are meaningful opportunities for all of our business areas: NSN (Nokia Solutions and Networks), HERE and Advanced Technologies. In all of these businesses, we have strong assets that we continue to invest in for the long-term benefit of our customers and shareholders."

HERE, formerly Ovi Maps and Nokia Maps, is Nokia’s unit that brings together its mapping and location assets under one brand.

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Tina held senior editorial positions at daily newspapers in Ottawa and Toronto

editorial@siliconrepublic.com