Nokia loss widens, sales down amid weak networks demand
HELSINKI (AP) — Nokia has reported a net loss for the third quarter amid a 7 percent drop in revenue as global demand for networks and telecommunications equipment remained weak.
The Finland-based networks operator said Thursday its net loss was 192 million euros ($227 million) compared to 119 million euro loss a year earlier on sales of 5.5 billion euros in the July to September period.
The loss was partially offset by a robust growth in licensing fees in the profitable Nokia Techologies unit and a one-off payment of from a settled patent arbitration with South Korea’s LG Electronics Inc.
CEO Rajeev Suri said the performance of Nokia’s patent licensing business was “the clear highlight of the quarter,” helping to boost the core networks business.
Nokia Corp. said it will pay a dividend of 0.19 euros per share from this year, up from 0.17 euros in 2016.