Nokia has published its financial results for Q3 2012, which shows the interesting position the company has found itself in. Smartphone sales have fallen drastically, as well as net sales from the division. Likely down to the imminent Windows Phone 8 release and new Lumia family of smartphones, Nokia experienced a 56 percent drop in net sales. In Q2 the company shipped 4 million Lumia devices, a steep decrease indeed.
The company has shifted to operating profitably on a non-IFRS basis, however. It's noted the tough transition Nokia has progressed through. Not only has the manufacturer moved over from Symbian, but to halt future hardware development on Windows Phone 7 in favour of Apollo was expected to hurt.
Stephen Elop commented on the financial report:
"As we expected, Q3 was a difficult quarter in our Devices & Services business; however, we are pleased that we shifted Nokia Group to operating profitability on a non-IFRS basis. In Q3, we continued to manage through a tough transitional quarter for our smart devices business as we shared the exciting innovation ahead with our new line of Lumia products.
While we continue to focus on transitioning Nokia, we are determined to carefully manage our financial resources, improve our competitiveness, return our Devices & Services business to positive operating cash flow as quickly as possible, and ultimately provide more value to our shareholders."
The company's US volume figures showed a 50 percent reduction quarter-on-quarter. While we're eagerly awaiting the Lumia launch, positive signs have been seen at retailers across Europe with the Lumia 920 topping charts in the pre-order stage. Should interest remain high and orders be fullfilled, Nokia will see a sharp increase in demand and supply, which should make Q4 paint a brighter picture.
Oculus acquires 'Asgard's Wrath' developer Sanzaru Games
Sanzaru Games is joining Oculus Studios, a press release has just confirmed. This comes a couple of months after Facebook and Oculus just acquired Beat Games.
Windows 10 release builds now getting new Mail and Calendar icons
The first set of Microsoft's colorful new icons are now rolling out to the public. After going out to Insiders last week, the new Mail and Calendar icons are the first to see a wide release.
Microsoft's upcoming brawler 'Bleeding Edge' is all I can think about
I gave Bleeding Edge a couple of tries last year during its alpha and early development, and while interesting, it didn't bite into me like its recent closed beta did. Now it's all I can think about.
Check out these sweet 2020 President's Day deals on laptops and PCs
Thinking about buying a new laptop or PC and missed the Black Friday deals? President's Day brings a bunch of deep discounts from popular manufacturers like Dell, HP, and Lenovo.