However, the network business, which will constitute the bulk of operations going forward, did well, causing shares in the company to rise.
The third-quarter net loss of
The struggling company said it sold 8.8 million Lumia smartphones, a 40 percent increase from 3 million a year earlier and slightly more than markets had expected.
But that was not enough to keep
Net sales at the devices and services unit fell by another 19 percent in the quarter, to
Although smartphone sales were up near 9 million, they lagged well behind chief competitors
Without the loss-making handset unit, the Finnish phone maker can look forward to better earnings from its more profitable networks business.
The company's share price jumped more than 5 percent to
He was upbeat on the purchase of NSN and the sale of the handset unit to
The company repeated its target to save
Most Popular Stories
- Twitter Coming to Phones Without Internet
- NASA Fellowships, Scholarships Bring Diversity to Workforce
- Dish Network Leads 2013 Top 50 Advertisers List
- Entravision Initiates Quarterly Cash Dividend
- Networks Vie for U.S. Hispanic TV Viewers
- Ad Counts Rise in 2013 for Hispanic Magazines
- Warner Bros. Unleashes 'Hobbit: Desolation of Smaug' Merchandise
- Shanghai Smog Forces Factory Shutdowns
- How to Arm Yourself Against CryptoLocker Virus
- Amanda Bynes Enrolls in California's FIDM