Nokia Facing Huge Loss in the Third Quarter
Nokia is reportedly facing a huge loss in the third quarter of the year, as the revenue of the company plunges down to about 19 percent. The company is said to face a stiff competition from the products of iPhone and Samsung. It is the plan to take on the marketing of the Smartphones by Nokia that has backfired for the time being.
The company has however maintained that the feature phones of Nokia had shown promising sales figures, including that of the Nokia Siemens Networks has been reported to earn a revenue growth of 3 per cent, during the said period. CEO of Nokia, Stephen Elop has mentioned that Nokia is still dealing with this revenue loss as it is trying to shift the platform of operating system from the Symbian and the Meego technologies to that of the software of Windows of Microsoft. The CEO is also hopeful that the company will be able to strike back and manage its ongoing financial crisis.
It is reported that the net sales of the company have dropped to about 9.45 billion US dollars. The situation has turned out to be somewhat troublesome for the company, while it is planning to launch its much-hyped new windows phone in collaboration with Microsoft. However, it is also being said that the fall in this quarter may not mean that the company is dead, but has also the instinct that it is slagging due to the transitional phase that the company is undergoing from changing its conventional software of Symbian to that of Microsoft’s Windows.