Nokia Forecasts Sales Decline in 2017, Shares Fall
Nokia has swung to a net loss and reported a sharp fall in sales for its July-to-September quarter, predicting that revenues in its main addressable market will continue declining at a "low single digits" rate in 2017.It also now expects to see a "declining capital expenditure environment in 2016" for its overall addressable market, having previously forecast that conditions would be "flattish" over the entire year.The Finnish vendor, which completed a €15.6 billion ($17 billion, at today's exchange rate) takeover of rival Alcatel-Lucent earlier this year, has been hit by the same weak spending conditions that have caused turmoil at Sweden's Ericsson AB (Nasdaq: ERIC), which reported its first quarterly net loss in four years earlier this month.
Nokia in Q3 Loss, Sales Drop Amid Networks Downturn
Nokia says it made a net loss in the third quarter and saw a 12-percent drop in sales amid a downturn in the networks industry, as the company reported combined results after the acquisition of Alcatel-Lucent.The Finland-based networks operator says the net loss was 125 million euros ($136 million) on sales of 5.9 billion euros in the period.A year earlier Nokia reported a stand-alone profit of 152 million euros on sales of 3 billion euros.
Nokia Sales Drop as Wireless Carriers Curb Network Spending
Nokia Oyj reported a 6 percent decline in sales and warned that waning demand for wireless-network equipment will continue to weigh on revenue this quarter.The stock slumped.Third-quarter sales fell to 6 billion euros ($6.5 billion), led by a 12 percent drop in network revenue, Nokia said in a statement Thursday.
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