Nokia reports Q3 earnings, €10.3 billion in sales

By on Oct 21, 2010 at 7:27 AM
General October 21, 2010

This morning, mobile giant Nokia announced earnings results for their Q3 of 2010 to mixed reviews. While the company did beat analysts Q3 estimates — with €529 million in net income and 110.4 million devices sold — the Finnish company did note that it would cut more than 1,800 jobs in an attempt to “streamline operations.” Other notable facts from Nokia’s Q3 sheet: the handset maker sold just 3.2 million devices in North America, the average selling price of all 110.4 million handsets was €65, and 11.6 million devices were sold in Latin America (a 20% increase year-over-year).

In a separate statement, the company also announced that it would no longer “refer to Symbian^3 or Symbian^4,” rather all “future improvements in Symbian will be developed in Qt and will be compatible with the existing Symbian^3 platform release.” The new, ubiquitous Symbian model will focus on Qt as the development framework and include support for HTML5. The company wrote, “The decision to focus on Qt as the sole application development framework will ensure that applications will continue to be compatible with future evolutions of Symbian as well as upcoming MeeGo products.” Hit the jump for links to both press releases.

Read [Q3 2010] Read [Symbian]

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  • http://aatechno.blogspot.com m4tic

    Symbian was never gonna die, glad nokia didn’t fall for tech blog’s stupid advice

    • sadavyk

      I think US tech sites just sucks, ran by misleading robots, 6 years ago blackberry was the best selling smartphone in the US market and till this day am still baffled my first smartphone was the Nokia 9500.. compare that to a blackberry or any palm device

      • http://aatechno.blogspot.com m4tic

        People don’t understand the evolution of the nokia symbian. In the US they have constant electricity so they don’t mind if their iPhone charges every 12hrs but outside like south america, middle east, africa etc there are people and most of them who take saving electricity seriously. What i would like for these blogs is to think outside their square and look beyond the surface.

      • ChocoBurrito

        This is a blog that focuses on North American tech, primarily smartphones. That’s unfortunate that in some places people don’t have it as well as us but its not our problem and we don’t need to put up with boring ass phones.

      • sadavyk

        okay but before apple I-phone, tech site meaning all of them gave reviews to all products not just the ones they like, fair is fair and North American site are not! but I’m nobody just my 2cent. Anyway I bet you also have and Apple logo tattooed on the small of your back cutie pie…

  • sadavyk

    F-ing WOW! and with all the bad press from Steve Jobs sex boys over @ Engadget,Gizmodo it’s just crazy lol

    • http://aatechno.blogspot.com m4tic

      Yeah, i was over at giz, the shit they publish

    • ChocoBurrito

      Did you read the article or just the headline? Cutting 1800 jobs is not doing well. And did you read true net income because that is what really matters. But oh well, at least there is a picture and a big bold title for most of you to enjoy.

      • David

        Not necesarilly, Nokia was living high on the hog for a long time. Cutting jobs means that they are less busy than they were, not that they aren’t a profitable, sustainable bussiness. When you have massive market share going into a rise in competition(IOS, Android, Web OS….) you will lose bussiness. Its all comparative, if you jsut look at Nokia, yes they are worse off, if you look at the whole industry you can see that this is just Nokia being brought down to a more realistic market share.

  • John

    Looks like they are dying in the US.

    • http://aatechno.blogspot.com m4tic

      They’re growing elsewhere though

    • sadavyk

      Because the US are filled with people who rides the subway with an I-pad, I-phone and a I-pod touch, and looks around just to make sure people can see that Steve Jobs give great hand Jobs, Wait till there’s an app to connect apple TV to an I-phone apple people are very odd.
      It’s the dumbest use of technology the world has ever seen…

      • TypicalEurotrashNokiaFanboy

        Right on man. Americans are so stupid. Nokia is the best handset maker in the whole universe. Apple makes pretty toys that do only what they say they do. How lame is that?

  • Jmar1183

    Honestly, it’s just a difference in cultures. It was wrong of Gizmodo not to publish a N8 review as there are still people who would like it in the US, but I really liked their article on the dirt cheap Nokia phone that such a large percentage of the developing world has.

  • A

    Average ASP of $90??? Wow, that is horrible. You might ship a lot of product but Businesses can not count on volume to save them any longer. Not with the new big fish in the pond.

    • sadavyk

      A is for the apple tattooed on your lower back sweet heart

      • D

        You may or may not be correct. Either or doesn’t matter because he is only speaking fact.

  • counsel

    You guys do understand business right? Cutting 1800 jobs may be good business… You switch development to only Qt, you may not neef thise other developers… May mean nothing about their business except cutting out non-essential staff. It may mean more, but you would need to go read the financial call to know…

    • Variaatio

      Mainly it will probably be result of rearranging their mobile division. If I have understood correctly, They will drop the separate E,N,X,C series teams. This will help ridding the company from duplicating work again over and over, because task are done once instead of every team making them separately on their own.

      Plus I think Nokia Research Center will get order to start producing some result and dropping research projects, if they are not leading to anything profitable. Just hoping they wont drop the cognitive radio and nano tech research teams.

      Plus probably laying of management.

      Little side note: international media is not reporting it, but Finnnish news media is saying, that 850 of the 1800 being laid of will be people working in Finland. People are not happy here :( Latest new are that the under heat are Oulu and Tampere offices, which do lots of symbian development. Well atleast we still have HQ in espoo and factory in Salo.

  • ohmy

    Dearest Nokia,

    I’d like a Full touchscreen phone….with Meego….N8 camera…800+mhz….512mb ram….internal memory 16 gb wit expandable storage to 32….SAMOLED hi rez screen….

    and i will drop my 9700 and go back to Nokia!

    Make it happen guys!

  • Deaconclgi

    I am just glad that BGR reported this story as NEWS and not with some hidden agenda to make Nokia fail. Thank you BGR for your excellent reporting on this story and allowing your readers to decide their own view of this in either a positive or negative light. Again, great work Andrew and Team!

  • vinny

    I remember owning a real nice phone called the Nokia N95. Real sharp, great specs for back then, kind of chunky in design but I liked it allot. The speakers were 2nd to none and it was just IMO the best device made for a few years. Nothing beats my Nexus One and it’s brother the G2.

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