The company had to take a 908 million EUR hit on the value of its Nokia Siemens Networks (NSN) joint venture, and suffered from a 20 percent drop in revenue. Nokia also revealed that its smartphone marketshare has dropped to 35 percent from 41 percent in the previous quarter.
Phone sales from converged devices, as Nokia likes to call it, fell to 16.4 million units from 16.9 million units in the second quarter.More details at MarketWatch
That decline comes at a time when customers are increasingly interested in the feature-laden segment of phones popularized by the iPhone from Apple and the BlackBerry from Research In Motion.
"They are seeing a lot of pressure from Apple, RIM, Samsung and HTC," said Geoff Blaber, director of devices, software and platforms at CCS Insight.