Nokia revealed its Q3 2011 earnings on Thursday.
The company reported a surprise earnings per share of 0.03 euros after analysts believed the company would report a loss of 0.01 euros. However, Nokia’s operating profit is down 60% year on year and its smartphone sales dropped 38%. Nokia shifted 16.8 million smartphones during its latest quarter and overall mobile sales hit 89.8 million, a rise of 25% from the same period last year. Nokia CEO Stephen Elop said he is “encouraged” with the progress the company made in Q3, noting that there are still a number of steps in its “journey of transformation.” Elop revealed that Nokia continues to take necessary steps towards structural change.
“Our results in Q3 indicate that our sales execution and channel inventory situation have improved. From a product standpoint, our overall Mobile Phones portfolio performed well. We shipped approximately 18 million dual SIM devices in Q3, and in markets such as India where dual SIM is pervasive, we gained market share. We also strengthened our Smart Devices line up in Q3, with the launch of our first smartphones running Symbian Belle, which improves the user experience and strengthens the competitiveness of our product portfolio.”
Elop also revealed he is encouraged by Nokia’s progress with Windows Phone. “We look forward to bringing the experience to consumers in select countries later this quarter. We then intend to systematically increase the number of countries and launch partners during the course of 2012.” Despite Elop’s cheery outlook for Nokia, a number of the company’s employees revealed their frustrations recently. Recent reports suggest that some employees are still wary of Elop and see him as a “Microsoft mole.”
Microsoft CEO Steve Ballmer and Windows Phone president Andy Lees both revealed this week that Nokia plans to unveil its Windows Phone offerings at Nokia World next week. Final press shots of Nokia’s 800 Windows Phone leaked on Wednesday and reveal that the company is planning blue, pink and black variants of its “Searay” device. A number of different codenames and specification lists have emerged over the past few weeks, none of them yet confirmed. Nokia appears to be preparing at least two Windows Phone devices, to be made available in select markets in November.