Nokia Records $834 Million Q3 Loss, Market Share Slips By 6%

Nokia has seen happier times, the world’s largest cell phone manufacturer posted a loss today of approx. $834 million (559 million euro) for the companies Q3 earnings report.

It’s the first time the electronics firm has lost money in more than a decade and comes at a time when sales have dropped by 20% alongside 1.17 billion euros in company write-downs. Investors can thank that write-down to impairment charges incurred by the Nokia Siemens Network.

Nokia’s market share was also severely damaged by Apple, Research In Motion and Palm Devices which took the company from a 41% market share to a 35% level.

With Nokia announcing their new Nokia Booklet 3G netbook it should be interesting to see how sales rebound or expenses increase in the coming quarters. In either respect the company that started as a paper, rubber and cables company has always showed the ability to evolve to changing times, now we just have to wait and see if that evolution occurs once again for the electronics firm.

(via The Inquisitr via Engadget)

While the Google-backed Android mobile operating system currently runs on less than 2% of all smartphones, Gartner Inc. predicts it will surge to 14% of the global smartphone market in 2012 -- ahead of the iPhone, as well as Windows Mobile and BlackBerry smartphones.

In that year, Gartner forecasts Android will actually rank second globally, behind the Symbian OS, which is used in Nokia devices that are highly popular in Europe and many countries outside the U.S. Symbian now runs on about half of all smartphones, but will fall to 39% in 2012, Gartner says.


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