Based on their checks, Oppenheimer & Co.’s has said that Nokia’s entire line of smartphones, not just Lumia, are seeing “decent demand,” and can produce sales of 8 million or 9 million units this quarter. They also reiterate a “Perform” rating on shares of Nokia and raise his estimates for the company’s current quarter based on improved performance of the “Lumia” devices.
Our checks point to balanced demand across all smartphone platforms (Symbian, WP7, WP8) benefiting from channel fill and strong carrier/Nokia/Microsoft marketing. We also believe the Asha portfolio continues to gain traction in what is traditionally a strong quarter for feature phones.
They have raised their Q4 estimate to $9.7 billion in revenue and a net loss of 4 cents a share from a prior $9.6 billion and a 7-cent loss.
Great to see, more and more Financial houses now showing faith in Nokia’s turnaround story !! Numerous sold outs and strong sales of Lumia 920 has been good indicator of the huge demand, but now getting some strong sales number predictions that too from usually negative analysts is really sweet ;).