Helsinki: Nokia has reported another quarterly loss on Thursday, but the results were better than expectations as the company is going to launch its new smartphones next month.
The third-quarter results were helped by its telecoms equipment company, Nokia Siemens Networks which the company said had achieved record profits.
Nokia’s net cash position fell to 3.6 billion euros ($4.7 billion) by the end of the quarter from 4.2 billion in June but still came in ahead of market forecasts of 3.4 billion euros.
Nokia along with its software partner Microsoft hopes to challenge the dominance of Apple’s iPhones or Samsung’s Galaxy models as its Lumia 820 and 920 phones, which will use Window 8, are due to hit shelves in November.
Some analysts were wary despite the stronger-than-expected numbers, saying much depended on sales of the new Lumias.
“Lofty market expectations for Q4 ignore the reality that new products will ship halfway through the quarter into an overwhelmingly competitive and congested market,” Reuters quoted Geoff Blaber, analyst at CCS Insight, as saying.
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