Nokia has delivered a disastrous set of third quarter results, revealing a massive $US754 million quarterly loss and a smartphone sales slump.
According to The Verge, Nokia announced a total operating loss of €576 million (about $A725.8 million) for the third quarter of 2012, with the company’s cash reserves dwindling from €4.2 billion ($A5.3 billion) to €3.56 billion ($A4.5 billion) quarter-over-quarter.
Overall phone shipments stood at 76.6 million for the quarter, down 15% from 89.8 million a year ago, but up 4% from 73.5 million in the second quarter.
Nokia’s overall smartphone shipments stood at 6.3 million for the quarter, with Symbian smartphones outselling the company’s Windows Phone-based Lumias by a margin of 3.4 million to 2.9 million. In addition, the company sold 6.5 million of its Asha full-touch featurephones.
The news comes as shareholder pressure mounts on chief executive Stephen Elop to resign over his Windows Phone strategy.