Nokia has released its Q3 2011 results, reporting an operating loss of -€71 million, with net sales of €8.980 billion (down 13% YoY). Nokia's Devices and Services division's profits were €132 million. Margins in devices and services were 2.4% (down from 11.3 % in Q3 2010 and up from -4.2% in Q2 2011). Total smartphone device sales were 16.8 million, compared with 27.2 million units in Q3 2010 (down 34% YoY) and 16.7 million units in Q2 2011 (up 1%, QoQ). The results were ahead of expectations and suggest the company has started on the road to recovery.
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Nokia has released its Q2 2011 results, reporting an operating loss of -€487 million, with net sales of €9.275 billion (down 7% YoY). Nokia's Devices and Services division's losses were -€247 million. Margins in devices and services were -4.5% (down 14% YoY and down 14.2% QoQ). However, non-IFRS operating profit was €391 million (down 41% YoY and down 44% QoQ), with Devices and Services non-IFRS profit at €369 million, and margins at 6.7%. Total smartphone device sales were 16.7 million, compared with 24 million units in Q2 2010 (down 34% YoY) and 25.2 million units in Q1 2011 (down 31%, QoQ).