Nokia Announces Q3 2011 Results, Still In The Red

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Nokia’s been struggling for a long time now, dethroned even in emerging markets where it once ruled the mobile phone arena. As an effort to rise from the ashes, Nokia has partnered with Microsoft to use Windows Phone operating system, and we can only wait and see how the company fares in the future. The latest financial results (for Q3 2011) it has published, however, are looking pretty grim.

Nokia suffered a net loss of around $207 million for the third quarter of 2011 as opposed to last year’s $442 million net profit from the same quarter. In spite of the massive loss in profits, Nokia actually did better than analysts predicted, selling 16.8 million smart devices when analysts were pegging the number more at 15.9 million. The company still ranks third overall in the list of industry manufacturers, though, after Samsung that’s already sold 20 million handsets in Q3 2011 and Apple that’s already sold 17.1 million iPhones.

Do you think Microsoft and Nokia change each other’s fate and arrive on top of the game?