Nokia posts $834 million quarterly loss, smartphone share down to 35%
Nokia just posted a net loss of 559 million euro (834 million dollars) for the third quarter — its first quarterly loss in a decade according to the AFP. The loss comes after a reported 20% drop in sales and 1.17 billion euros in write-downs, mostly for impairment charges on Nokia Siemens Networks. Nokia also said that its smartphone market share dropped to 35% versus 41% in the previous quarter. With fierce competition from Apple and RIM, and Palm just launching its Pre into Nokia’s European stronghold, well, it’s a good thing Nokia’s branching out into untapped markets like single-core Atom-based netbooks.
Read — Smartphone slip
Read — First loss in a decade
Read — Nokia Q3 statement
Nokia posts $834 million quarterly loss, smartphone share down to 35% originally appeared on Engadget Mobile on Thu, 15 Oct 2009 08:12:00 EST. Please see our terms for use of feeds.
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