Alike the first two quarters, this quarter Q3 too haven’t got anything special. Nokia have been constantly trying to improve its financial conditions by cutting down jobs, selling its assets like Vertu luxury handset unit but got no good. Its gradual drop in sales has drained its cash reserves drastically. In the third quarter the sale of existing Lumia smart phones fall down to 2.9 million from 4 million comparing with that of the second quarter. Surprisingly the sale graph of mid-range featured phones saw a sudden increase as compared to previous quarters, all the credit goes to the new Asha series. Shares have already gone down by 70 percent since its tie-up with Microsoft in February 2011, hitting to 18 year low of 1.33 euros in July. Their cash reserves have dropped to 3.6 billion euros from 4.2 billion euros in June. Q4 will be challenging though as they will roll out the Windows Phone 8 Lumia 820 and 920. All we can say is Best Of Luck Nokia.
