Nokia Reports Sixth Straight Quarterly Loss

Nokia Corp. on Thursday reported its sixth consecutive quarterly loss, with depleted cash reserves, underlining how much the company is relying on strong sales of a new lineup of smartphones that is due to hit stores next month.

Nokia’s net loss in the third quarter totaled €969 million, compared with a €68 million loss in the same quarter a year ago, although narrowing from the €1.4 billion loss it posted in the previous quarter. Analysts had expected a €695 million loss.

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