Nokia reports $125 mn net loss in Q3 as sales continue to plunge

Nokia has reported a net loss of 125 million dollars in the third-quarter as revenue plunged more than 20 percent to 7.6 billion dollars.

The struggling company said that it sold 8.8 million Lumia smartphones, a 40 percent increase from three million a year earlier, but gave a negative outlook for its devices and services operations that it is selling to Microsoft Corporation, News.com.au reports.

However, the company said that it expects a positive operating margin of 12 percent at its solutions and networks unit.

According to the report, net sales at the devices and services unit fell by another 19 percent in the quarter, to 3.9 billion dollars.

The company lagged behind chief competitors, like Apple, with quarterly sales of 33.8 million, the report added.