Nokia has reported a net loss of Euro 151 million for the three months ended September 30, 2011. This is owing to a decline in the sales of handsets and smart devices.
In the September quarter, Nokia registered a loss of Euro 151 million on net sales of Euro 8.98 billion euros. The entity registered a net profit of Euro 322 million in the year-ago period. Also, the company’s net sales fell from Euro 10.27 billion in the same period a year-ago.
While the net sales of smart devices declined by 39 per cent, the sale figures of handsets fell by 14 per cent. Moreover, mobile device volumes declined to 106.6 million units in the September 2011 quarter as compared to 110.4 million units in year-ago period.
In a statement issued by the company, Stephen Elop, chief executive officer, Nokia, said, “From a product standpoint, our overall mobile phones portfolio performed well. We shipped approximately 18 million dual SIM devices in the third quarter of this year and gained market share in markets like India.?
