The Washington Post

Nokia shares fluctuate on earnings report showing sixth consecutive loss

Nokia posted its sixth consecutive quarterly loss Thursday, taking a nearly 6 percent hit in early morning trading. The stock has see-sawed throughout the day and was trading more than 3 percent down for a share price of $2.84 at 1:30 pm.

There’s no question that the report had some bad news. Sales fell 22 percent from the same period last year, while revenue fell 19 percent. Still, company officials said they are upbeat as they look ahead to the launches of its Lumia 8X and 8S Windows phones.

Sales of the Lumia 900 and other Lumia phones have dropped off dramatically, likely because the company announced they would not be eligible for an upgrade to Windows Phone 8.

In a statement, Nokia Chief Executive Officer Stephen Elop acknowledged that it had been a tough quarter but focused on the upcoming smartphone launches.

“[We] continued to manage through a tough transitional quarter for our smart devices business as we shared the exciting innovation ahead with our new line of Lumia products," he said. In guidance for the fourth quarter, Nokia cautioned that it expects a “lower-than-normal benefit” from the holiday season because of this transition.

Nokia is taking a big bet on Microsoft’s new operating system, with plans to release two Lumias aimed at the high and low ends of the smartphone market. Both support inductive charging — meaning they can juice up by being placed on a plate instead of plugged into the wall — and have screens larger than 4 inches.

The Lumia 920 and 820 are coming to AT&T in November, but the carrier has not announced a price for the devices yet.

Related stories:

Nokia’s big bet on Windows Phone doesn’t impress investors

Microsoft, Google eye mobile holiday sales

Nokia announces the Lumia 920, Lumia 820

Hayley Tsukayama covers consumer technology for The Washington Post.



Success! Check your inbox for details. You might also like:

Please enter a valid email address

See all newsletters

Show Comments
Most Read



Success! Check your inbox for details.

See all newsletters

Your Three. Videos curated for you.
Play Videos
Be a man and cry
Program turns prisoners into poets
Unconventional warfare with a side of ale
Play Videos
The signature dish of Charleston, S.C.
For good coffee, sniff, slurp and spit
The most interesting woman you've never heard of
Play Videos
How to prevent 'e-barrassment'
The art of tortilla-making
A man committed to journalism, caught in the crossfire
Play Videos
Tips for (relatively) stress-free dining out with kids
How to get organized for back to school
How the new credit card chip makes purchases more secure

To keep reading, please enter your email address.

You’ll also receive from The Washington Post:
  • A free 6-week digital subscription
  • Our daily newsletter in your inbox

Please enter a valid email address

I have read and agree to the Terms of Service and Privacy Policy.

Please indicate agreement.

Thank you.

Check your inbox. We’ve sent an email explaining how to set up an account and activate your free digital subscription.