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Nokia shares rise despite reporting losses results

October 26, 2012 By: Dr Search Principal Consultant at the Search Clinic Category: Apple, Google, mobile phones, Nokia, Search Clinic, smart phones, Technology Companies, Uncategorized

Nokia shares have risen sharply in Helsinki despite reporting another set of company quarterly losses.Nokia shares rise despite reporting losses resultsThe mobile phone company reported a net loss of 969 million euros (£787 million) for the three months to the end of September, compared with a 68 million euro loss in the same quarter last year.

But the shares rose 9% as the results were still better than the money markets had being expected.

The Finnish company’s sales were down 19% from the same period last year.

Nokia was the world’s leading mobile phone maker for more than a decade, but has struggled in the face of competition from Apple and Samsung.

Its third quarter results were boosted by record profits from its telecoms equipment company, Nokia Siemens Networks.

Nokia is releasing new Lumia 820 and 920 phones next month, which will use Microsoft’s latest Windows 8 software.

The forthcoming quarter is going to be tough for its smartphone business due to the release of the new Windows Phone 8 operating system.

It will take a couple of quarters to ramp up Windows Phone 8 volumes due to the competitive landscape- with Apple’s new iPhone and Google’s new Motorola also being launched.

The introduction of Windows smartphones has been the big change under chief executive Stephen Elop, who phased out the Symbian operating system shortly after he took control of the company in 2010.

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