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Nokia’s Q3: Profit of $162 mi, Lumia volume at 8.8 mi, Here & NSN profitable. Shipment in NA up by 180% QOQ.

UntitledQuick heads-up!! Nokia’s Q3 results are out and here are the highlights and positives,

  • Nokia has reported net profitability of $162 million, which has been shared by profitable NSN and Here. This is really good sign as Here has contributed to earnings  positively for the first time.
  • Lumia volume has grown by 19% QOQ to 8.8 million. We predicted 9.7 million. Getting closer!!
  • Mobile shipments grown by 6% QOQ to 64.6 million. Full-touch Asha sales up to 5.9 million
  • One really big positive is Lumia volume growth by 180% QOQ in North America which will be primarily contributed by USA sales. Lumia volume for NA stand at 1.4 million in Q3.

Some highlights from the press release,

Nokia Group achieved underlying operating profitability for the fifth consecutive quarter, with a Q3 non-IFRS operating margin of 3.8%, driven by strong performances by Nokia Solutions and Networks (NSN) and HERE.

Nokia Group ended Q3 with a strong balance sheet and solid cash position, with gross cash of EUR 9.1 billion and net cash of EUR 2.4 billion.

Excluding the acquisition of Siemens’ stake in NSN for EUR 1.7 billion, Nokia Group net cash was approximately flat sequentially. At the end of Q3 NSN’s contribution to Nokia Group gross and net cash was EUR 2.7 billion and EUR 1.5 billion, respectively. –

NSN achieved underlying profitability for the sixth consecutive quarter, with Q3 non-IFRS operating margin of 8.4%, reflecting strong gross margin and continued progress relative to its strategy in a seasonally weak quarter.

HERE achieved Q3 non-IFRS operating margin of 9.5%, reflecting solid gross margin and operational efficiency. – Devices & Services achieved Q3 non-IFRS operating margin of negative 1.6%.

Press Release

Nayan has more than 10 years of experience of covering Technology and innovations. He is a big Nokia fan and Tech disruptions aficionado. He loves to review new cool gadgets and writing about Android, iOS, Gadgets and general Technology stuff. He has been associated with other well-known Tech sites WinCentral and GadgetOx since long. He currently sports a Lumia 950 XL and Nexus 5X. Other interests include listening to Nu-Metal Hits and Kick-Boxing. Write to him at Email: [email protected]
  • Kamal

    I understand and fully agree as a Nokia fan that this may have been the worse time to sell Devices and services division. With Lumia volumes rising with every quarter, they could have opted to wait for few more quarters. But, perhaps BOD cared about investor sentiments more than the legacy!!

  • Ryan

    Just wanted to get your opinion. Off this news, Microsoft actually advertising, all the new products coming out, and the nice increase in sales in America. Do you really think Nokia should sell its devices and services business???

    With the 1020 and now all these new products coming out, it seems like the worse time to sell imo