Nokia posts 559 m loss

Its net sales decreased to €9.81 billion in third quarter of 2009 from €12.23 billion in the same period last fiscal. Nokia Siemens Networks, a 50:50 joint venture of Nokia Corp and German Siemens AG, had suffered non-cash asset impairment charges of 908 million euros and 29 million euros for restructuring and other one time charges.

The JV firm registered net sales of 2.8 billion euros, down 21 per cent from the same period last year and also witnessed a 14 per cent decline from the second quarter. The demand for mobile devices improved in many markets during Q3.

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