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Nokia reveals Q3 results, including services revenues

Stuart Dredge
Nokia reveals Q3 results, including services revenues

€148m of net sales from games, music and other services.

Nokia has announced its Q3 financials, revealing net sales of €9.8 billion - down 20% year-on-year.

The company shipped 108.5 million mobile handsets during the quarter - down 8% year-on-year - while its estimated market share remained constant at 38%.

The company blamed the economic climate, but also "component shortages across the portfolio", which it expects to continue into Q4.

Nokia says it shipped 16.4 million "converged mobile devices" during Q3 - i.e. smartphones - up just 5.8% year-on-year. That's not great, given the wider industry buzz around smartphones. The figure includes 4.5 million Nseries phones and 4.4 million Eseries phones.

For the first time, Nokia broke out its services revenues, which totalled €148 million for the quarter. That's revenues from games, music, applications and other mobile services.

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Net sales at Nokia's Navteq mapping subsidiary were €166 million for the quarter, up 6% year-on-year, but  reported an operating loss of €68 million.

There were no usage figures for Comes With Music, its unlimited music offering, although Nokia says it is now available on 17 devices in 12 countries, having added Austria, the Netherlands and South Africa during Q3.

On the positive side, Nokia now thinks the mobile industry will shift 1.12 billion handsets this year, which although down 7% from 2008, is an upwards revision of Nokia's earlier prediction of a 10% slump this year.

Tags: Nokia