Nokia sales slip again ahead of strategy overhaul

Nokia’s sales slipped again in the third quarter as it prepares an overhaul of its marketing strategy and the launch of its first Windows phones.

/y/i/e/nokia160.jpg

The Finnish mobile company’s net sales were down 13% to €8.98bn in the three months to September, although this beat analysts’ expectations, who predicted the drop would be far worse.

Nokia posted a pre-tax loss of €151m, ahead of the €300m loss some analysts predicted.

The company sold 16.8 million smartphones in the quarter, down 39% year on year, but better than expected sales of feature phones, of which Nokia shipped 18 million in the period, helped boost revenues.

Stephen Elop, Nokia CEO, says: “In Q3 we started to see signs of early progress in many areas. As we head into the fourth quarter we are looking forward to generating more success as a result of delivering against our new strategy.”

He added that the company has made some “difficult decisions”, which is likely to refer to its decision in April to cut 7,000 jobs as part of a €1bn cost-cutting programme.

Nokia is set to launch its first range of Windows-powered smartphones and unveil its new youth-focused marketing strategy at an event in London on 26 October.

Latest from Marketing Week

NOT REGISTERED? IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now

THE BEST CONTENT

Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here