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.

Recommended

/i/y/t/netflix2.jpg

Netflix to launch in UK early next year

Jessica Davies

US movie streaming giant Netflix, which operates a similar hybrid physical DVD and streaming TV and movie rental service as LoveFilm, will launch in the UK and Ireland early next year. Read the full story here.

/o/m/r/clintoncards160.jpg

The start of Clintons’ transformation

Rosie Baker

Clinton Cards is to launch an online video card service next week, perhaps not everyone’s cup of tea, but the first of many initiatives planned in the transformation of its retail business. The retail chain has been around since 1968 and is entering a new era following two major appointments. It has been led by […]

Comments

    Leave a comment