Nokia in Q3 net loss as sales plunge

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Associated Press

Posted on October 29, 2013 at 8:06 AM

HELSINKI (AP) — Nokia has reported a third-quarter net loss of 91 million euros ($125 million) as revenue plunged more than 20 percent to 5.6 billion euros.

The struggling company said that it sold 8.8 million Lumia smartphones, up from 3 million a year earlier, but gave a negative outlook for its devices and services operations it is selling to Microsoft Corp.

The Finnish phone maker said, however, that it expects a positive operating margin of 12 percent at its solutions and networks unit.

A year ago, Nokia Corp. reported a third-quarter net loss of 969 million euros with a plunge in revenue to 7.2 billion euros.

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