Page last updated at 13:19 GMT, Thursday, 15 October 2009 14:19 UK

Nokia makes loss after poor sales

 A sales assistant holds up a Nokia handset
Competition in the smartphone market is intense

Nokia has reported a loss for the July to September quarter after sales sank by almost a fifth.

The company made a net loss of 913m euros ($1.4bn; £838m) for the period, compared with a profit of 1.1bn euros for the same quarter last year.

This included a write-off of 908m euros reflecting the fall in value of its Nokia Siemens Networks division.

Nokia has suffered as mobile phone makers like Apple have developed more popular smartphones, analysts say.

Net sales fell to 9.8bn euros compared with 12.2bn euros a year ago.

Chief executive Olli-Pekka Kallasvuo said that sales "were constrained by component shortages".

Despite the fall in sales, Nokia said it had maintained its overall global market share in mobile devices at 38%.

It said it had increased market share in Europe, Latin America, the Middle East and Africa.

"This was offset by lower market share in Greater China, Asia-Pacific and North America," Nokia said.

The company estimates that global mobile phone sales in 2009 will fall by 7% from 2008.

"Overall, I have to say it is kind of a mixed bag with a negative bias. I think that the big picture doesn't look that well," said Thomas Langer at West LB.



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