Nokia Posts $834 Million Quarterly Loss, Smartphone Share Down To 35%

Nokia Posts $834 Million Quarterly Loss, Smartphone Share Down To 35%

By | Oct 16, 2009

Nokia just posted a net loss of 559 million euro (834 million dollars) for the third quarter — its first quarterly loss in a decade according to the AFP. The loss comes after a reported 20% drop in sales and 1.17 billion euros in write-downs, mostly for impairment charges on Nokia Siemens Networks. Nokia also said that its smartphone market share dropped to 35% versus 41% in the previous quarter. With fierce competition from Apple and RIM, and Palm just launching its Pre into Nokia’s European stronghold, well, it’s a good thing Nokia‘s branching out into untapped markets like single-core Atom-based netbooks.

Read — Smartphone slip
Read — First loss in a decade
Read — Nokia Q3 statement

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