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.