Nokia Corporation (ADR) (NYSE:NOK) successfully held its ground in the market due to impressive sales of its Lumia Windows Smartphone series; the company shipped 8.8 million units, which is a record high for Nokia. Nokia revealed a 118 million Euros operating profit in its third quarter; however, its revenue went down by 22% year/year – fell down to 5.7 billion Euros.
Since the launch of Lumia back in 2011, Nokia has sold around 36.1 million Nokia Lumia handsets. However, this figures seems a little weak as compared to iPhone sales by Apple Inc (NASDAQ:AAPL), which were 33.8 million units sold in Apple’s 2013’s third quarter only. Smartphones based on Google Inc (NASDAQ:GOOG)’s Android platform has also activated over 900 million android handsets so far.
Nokia in its third quarter also had 5.9 million shipments of its Asha phones in a few developing markets; therefore the overall smartphone sales for Nokia reached 14.7 million. The company’s net sales for services and devices division went down by 19% year/year and dropped down to 2.9billion Euros. The division will be paid 3.8 billion Euros by Microsoft Corporation (NASDAQ:MSFT) along with 1.7 billion Euros to acquire a non-exclusive 10 year license for Nokia’s patents; Microsoft will also pay a fee for Nokia’s location platform and HERE maps four year long license.
Third quarter net sales reported by Nokia’s HERE division were $211 million, which was a drop by 20% year/year; however, the operating loss of 56 million Euros was turned into an operating profit of 15 million Euros. Net sales of NSN went down by 26% and dropped down to 2.6 billion Euros and it saw a 9% drop (dropped down to 166 million Euros) in operating profit.
A new TDD LTE deployment contract across Nokia’s spectrum of 2.5 GHz to improve data capacity as Sprint’s part of large-scale US roll-out has been signed between Nokia Solutions and Networks and Sprint Corporation, which has extended the relationship between the two companies.
Nokia Solution and Network under this contract will deploy its Radio Solution TDD LTE with the latest LTE software capabilities and NetAct Network Management System. Innovations of TDD LTE are powered by NSN in six continents; NSN is the leading element in development, thriving ecosystem and commercialization of technological global market.
Shares of Nokia Corporation (ADR) (NYSE:NOK) went down by -0.39% ($7.60), share of Apple Inc. (NASDAQ:AAPL) went up by 0.34% ($524.50), shares of Google Inc (NASDAQ:GOOG) went up by 0.30% ($1,033.67), shares of Microsoft Corporation (NASDAQ:MSFT) went up by 0.30% ($35.51) and shares of Sprint Corporation (NYSE:S) went down by -0.30% ($6.71) in afterhours.