yahoo :Nokia hit by weak wireless market, says awaiting merger benefits/6:27

Nokia hit by weak wireless market, says awaiting merger benefits

By Jussi Rosendahl and Tuomas ForsellHELSINKI (Reuters) - Finnish telecoms equipment group nokia/" target="_blank">nokia/" target="_blank">Nokia reported a sharp drop in third-quarter earnings on Thursday, suffering from weaker sales in the wireless network market and warning that the market was likely to shrink further in the coming year.Its share price fell 7 percent on the news to its lowest level in three years, despite analysts saying that Nokia is now better placed than Ericsson to ride out the downturn in the mobile network market following its acquisition in January of broader-based rival Alcatel-Lucent.Ericsson earlier this month reported a more than 90 percent plunge in third-quarter profits and replaced its chief executive.

Nokia hit by weak wireless market, says awaiting merger benefits

A photo illustration of a man silhouetted against a nokia/" target="_blank">nokia/" target="_blank">Nokia logo in the central Bosnian town of Zenica January 23, 2014.REUTERS/Dado Ruvic/File PhotoHELSINKI Finnish telecoms equipment group Nokia (NOKIA.HE) reported a sharp drop in third-quarter earnings on Thursday, suffering from weaker sales in the wireless network market and warning that the market was likely to shrink further in the coming year.Its share price fell 7 percent on the news to its lowest level in three years, despite analysts saying that Nokia is now better placed than Ericsson (ERICb.ST) to ride out the downturn in the mobile network market following its acquisition in January of broader-based rival Alcatel-Lucent.

Nokia reduces losses as merger with rival proceeds

HELSINKI - Finnish telecom equipment giant nokia/" target="_blank">nokia/" target="_blank">Nokia said Thursday it has managed to reduce losses but remained in the red in the third quarter after acquiring its former rival, French-American Alcatel-Lucent.Thanks to the Alcatel-Lucent acquisition, Nokia's net sales grew by nearly 94 percent year-on-year to 5.89 billion euros ($6.43 billion)The world's former number one in handsets, which turned into a telecom equipment maker, reported a net loss of 125 million euros ($135 million) in the third quarter after a 665-million-euro loss in the previous quarter ($725 million).Thanks to the Alcatel-Lucent acquisition, the company's net sales grew by nearly 94 percent to 5.89 billion euros from 3.04 billion for Nokia alone a year before (to $6.43 billion from $3.32 billion).