Nokia Reports Smaller Loss as Handset Sales Beat Estimates
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Nokia Oyj reported a smaller-than-estimated loss and forecast a profitable quarter for the handset business as the Finnish manufacturer prepares to introduce models based on Microsoft Corp.’s software. The shares surged.
The third-quarter net loss was 68 million euros ($94 million), Espoo, Finland-based Nokia said today. Analysts had projected a 229 million-euro loss. Shipments of lower-priced handsets jumped 8 percent to almost 90 million units, boosted by models with two SIM-card slots. Those sold 17.9 million units, helping overall volumes exceed estimates by 14 percent.