Nokia posts Q3 results, in dire need of a bestseller handset

Nokia posts Q3 results, in dire need of a bestseller handset
The global financial meltdown has hit really bad many companies and it seems even major cell phone manufacturers are bleeding. Nokia is hard hit as well and has been cutting out the deadwood to trim down on expenses and make it through the bad patch. There is a glimmer of hope in the Q3 results that the Finnish giant has just posted, because they show 5% growth in sales of devices and services compared to the figure in Q2 2009. However, saying things are looking worrying, to put it mildly, would be a gross understatement. Year on year net sales are down with the stunning 19.8%, while operating profit slumped the mind-blowing 57.8% on the same period. Perhaps it´s about time new entrants took over the board room.

The manufacturer announced several new models at Nokia World 2009 that took place last month. Still, moving back in the black may prove to be much harder than the release of a new cell phone bestseller, not that this would not be a step in the right direction. Is it likely that handsets like the N97 mini, X6 and Booklet 3G bring Nokia back to life? Only time will tell, although we doubt that several brand-new cell phones are going to cut it in these troubled times. 

source: Nokia

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6 Comments

1. Fanboys Suck

Posts: 609; Member since: Dec 12, 2008

N900... Hopefully (for Nokia's Sake) a best seller...

2. millroom88

Posts: 6; Member since: Oct 15, 2009

If nokia wants to do big numbers, they need to bring there high end phones to CDMA , sprint and Verizon

5. DOGIEFRESH

Posts: 316; Member since: Jul 15, 2009

You probably right but CDMA only represents 10 % of the total wirelles users in the world, GSM dominates the market, CDMA only have strong footpring in the US an Canada so I dont think that 10% will save Nokia....!!!

6. millroom88

Posts: 6; Member since: Oct 15, 2009

im just saying that, CDMA is a market that Nokia never got into, and theres alot of money to be made in that 10%

3. Kiltlifter

Posts: 742; Member since: Dec 11, 2008

I agree... AT&T has the iPhone so nokia's efforst are wasted there. Sprint and VZW don't have any Symbian Phones... AT ALL! Bring some good devices here... get over that VZW and Sprint use an American Technology and open up your platform to 120 million new subscribers and pay the minimal license fees to use those chipsets. I don't know if sprint gets any nokia devices... but the VZW ones are lame; to put it lightly.

4. MTLance unregistered

OMG N97 cannot stand a chance with the iPhone although the N900 looks very promising but Nokia have to work a lot harder.

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