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Nokia Posts Q3 Loss

11:55 am on Oct 15, 2009 (gmt 0)

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Nokia Posts Q3 Loss [bloomberg.com]
Nokia Oyj, the world’s biggest maker of mobile phones, had its first net loss since the company began reporting quarterly in 1996, hurt by costs related to a joint venture with Siemens AG and on weaker demand.

The company reported a net loss of 559 million euros ($834 million), from a profit of 1.09 billion euros in the year- earlier period. Sales declined to 9.8 billion euros. Analysts in Bloomberg surveys had expected on average a profit of 367 million euros and sales of 10.03 billion euros.