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:
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.
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Rich Edmonds was formerly a Senior Editor of PC hardware at Windows Central, covering everything related to PC components and NAS. He's been involved in technology for more than a decade and knows a thing or two about the magic inside a PC chassis. You can follow him on Twitter at @RichEdmonds.