Nokia has posted an operating loss of Euro 576 million in the third quarter 2012. Its net sales dipped to Euro 7.2 billion in Q3 2012 from EUR 7.5 billion in Q2 2012.

Nokia's Windows Phone 7 series, Lumia has failed to woo its customers. Lumia volumes has decreased to 2.9 million units, in this quarter. While its other mobile devices volumes increased quarter-on-quarter to 77 million units in Q3; it had good sales start for Asha series, with volumes of 6.5 million units.

Nokia Siemens Networks division has brought cheers to Nokia. It has posted a profit of Euro 182 million and its net sales increased quarter-on-quarter and year-on-year to Euro 3.5 billion in Q3 2012.

Location and Commece division has also remained unprofitable. Its net sales declined by 6% from Euro 283 million in Q2 2012 to Euro 265 million in Q3 2012.

Stephen Elop, Nokia CEO stated,"As we expected, Q3 was a difficult quarter in our Devices & Services business; however, we are pleased that we shifted Nokia Group to operating profitability on a non-IFRS basis. In Q3, we continued to manage through a tough transitional quarter for our smart devices business as we shared the exciting innovation ahead with our new line of Lumia products." He added, "While we continue to focus on transitioning Nokia, we are determined to carefully manage our financial resources, improve our competitiveness, return our Devices & Services business to positive operating cash flow as quickly as possible, and ultimately provide more value to our shareholders."

Nokia expects the fourth quarter 2012 to be yet another challenging quarter due to the competitive industry dynamics and macroeconomic environment. Stephen added, "This outlook is based on our expectations regarding a number of factors, including:competitive industry dynamics continuing to negatively affect the Smart Devices and Mobile Phones business units; the fourth quarter being a ramp up quarter for our new Lumia products, which are expected to start selling in select markets; consumer demand, particularly related to our current Lumia products; and an expected increase in Devices & Services operating expenses as a result of new product launches, partially offset by expected cost reductions under our restructuring program."