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Nokia sales fall 7% in Q3 as mobile market softens
2016-10-27 07:46:00| Telecompaper Headlines
(Telecompaper) Nokia reported third-quarter pro forma sales down 7 percent year-on-year to EUR 5.95 billion, hurt by a slowdown in the mobile network market. Sales at the Networks business fell 12 percent annually to EUR 5.32 billion but were up 2 percent from the second quarter, in line with the company's forecast for sequential improvement. The licensing division Nokia Technologies did much better, more than doubling revenues to EUR 353 million thanks to the company's new agreement with Samsung. Adjusted operating profit fell 18 percent to EUR 556 million, and the margin of 9.3 percent was down from 10.7 percent a year ago but an improvement from 5.8 percent in Q2.
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Category:Telecommunications