Nokia announces weak third quarter results

In the Devices & Services business unit, sales dropped 34 percent to Euro 3.56 billion. Sales of smartphones plunged 56 percent year-on-year to Euro 976 million, while sales of Nokia cell phones shrank 19 percent to Euro 2.37 billion.

During the third quarter, Nokia sold 82.9 million mobile devices, 22 percent less than in the same period last year. The number of smartphones sold dropped to 6.3 million units compared with 16.8 million pieces in the third quarter 2011. Due to the new Lumia smartphones, the average price per unit increased by 18 percent to Euro 155. The number of Nokia cell phones declined 19 percent in the third quarter, reaching 76.6 million units. In this segment, the average price per unit decreased from Euro 32 to 31.