Nokia has delivered a disastrous set of third quarter results, revealing a massive $US754 million quarterly loss and a smartphone sales slump.
According to The Verge, Nokia announced a total operating loss of €576 million (about $A725.8 million) for the third quarter of 2012, with the company’s cash reserves dwindling from €4.2 billion ($A5.3 billion) to €3.56 billion ($A4.5 billion) quarter-over-quarter.
Overall phone shipments stood at 76.6 million for the quarter, down 15% from 89.8 million a year ago, but up 4% from 73.5 million in the second quarter.
Nokia’s overall smartphone shipments stood at 6.3 million for the quarter, with Symbian smartphones outselling the company’s Windows Phone-based Lumias by a margin of 3.4 million to 2.9 million. In addition, the company sold 6.5 million of its Asha full-touch featurephones.
More embarrassingly for the company, its sales in the key US market fell from 600,000 phones during the second quarter to just 300,000 in the third quarter.
The news comes as shareholder pressure mounts on chief executive Stephen Elop to resign over his Windows Phone strategy.
Andrew Sadauskas is a former journalist at SmartCompany and a former editor of TechCompany.
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