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Nokia poised to unveil Q3 earnings

Thu, 10/18/2012 - 1:01am
The Associated Press

Nokia Corp. is expected to unveil more bad news when it reports its third-quarter results as the struggling cellphone maker faces increasing competition from rivals during its transition to using Microsoft's software in its devices.

Analysts say sales and profits will plunge, with a further drop in market share for the former industry leader that lost its top position to Samsung earlier this year. Strategy Analytics expects Nokia to sell 8 million smartphones in the quarter compared with Samsung's 55 million and Apple Inc.'s 27 million iPhones.

Markets will be watching keenly if the Finnish company' teaming up with Microsoft Corp. last year has helped reverse its slide and raise the company's profile.

A year ago Nokia reported a third-quarter net loss of €68 million on revenues of €8.9 billion.

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