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loss of euro559 million ( $832 million) in the third quarter, taking
hits from a 20 percent drop in sales and a large one- time charge at
its network unit. Nokia made a profit of euro1.09 billion in the
same quarter of 2008. Net sales in the July-September period dropped
to euro9.81 billion, down from euro12.2 billion in the same period
last year, partly due to a shortage of components across its product
portfolio, Nokia said. The Finnish company also booked a 908 million
euros goodwill impairment at Nokia Siemens Networks, a joint network
infrastructure unit with Siemens AG of Germany. The mobile phone
industry has been hit hard by the financial crisis, but Nokia said
the market outlook is improving. It raised its 2009 forecast for
mobile phone volumes, saying it now expects a 7 percent decline from
the previous year, rather than the 10 percent fall it had earlier
predicted. Nokia also upgraded its estimates for the network
infrastructure market, predicting a 5 percent fall in euro terms in
2009 , compared to an earlier estimate of a 10 percent decline.
