Nokia has just announced a total operating loss of €576 million (around $754 million) for the third quarter of 2012. When offset against Microsoft's quarterly "platform support payment," the company's net cash fell from €4.2 billion ($5.5 billion) to €3.56 billion ($4.7 billion) quarter-over-quarter. For perspective, Nokia had €5.07 billion ($6.64 billion) in the bank this time last year. The results are below analyst expectations, but don't come as a huge surprise: Nokia CEO Stephen Elop told reporters and investors that Q3 was going to be a "challenging" quarter during a Q2 earnings conference.
The company's Lumia line has been in a state of limbo after it was announced that the smartphones would not be upgraded to Windows...
via The Verge - All Posts http://www.theverge.com/2012/10/18/3517778/nokia-q3-2012-financial-report
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