Nokia’s Third Quarter Sales Down By Approximately 20 Percent

NokiaNokia closed its financial quarters with a reduction in sales of handset by approximately 1 percent on the preceding 3 months. It was also noted that the Finnish mobile company experienced an annual handset sales reduction of about 22 percent relative to the Q3 sales of 2011.

Unfortunately revenue generated by the Nokia merchandising handsets also hit low ebb due to the reduced sales and it is calculated that the latter firm would experience a 34 percent decline in its current fiscal year. Another 19 percent decline annually is estimated while a subsequent 4 percent loss is being anticipated from every preceding quarter.

The figures correspond to 7.239 billion Euros which is approximately $ 9.48 billion for all annual sales of Q3 2012 while in retrospect 12.2 billion Euros ($15.97 billion) were generated solely in Q3 2011. If the same trend continues Nokia may be looking at huge sale reduction in the subsequent 8-10 months. The company as of now is experiencing a 576 million Euros operational loss ($754 million) in spite of laying off 10,000 employees worldwide.

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