Nokia Reports Lower Q3 Net Sales, Profits Oct 17, 2008

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Nokia reported lower net sales and operating profit for its third quarter, ended Sept. 30. Net sales slipped to US$16.6 billion from the previous year’s $17.5 billion, while operating profit was $1.99 billion, down from the prior year’s third quarter of $2.52 billion. Operating margin was 12% for the quarter, down from the prior year’s 14.4%.

Nokia’s mobile device volume was 117.8 million units, up 5% year-on-year. Its share of the market was 38% down from 39% in the previous year’s third quarter and down from 40% in the 2Q 2008.

In North America, Nokia’s mobile device volume was 4.5 million, down 16.7% from the previous year’s 5.4 million.

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