Reuters: Technology News: Nokia's equipment unit NSN suffers 33 percent profit drop in third quarter

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Nokia's equipment unit NSN suffers 33 percent profit drop in third quarter Oct 29th 2013, 11:30 HELSINKI | Tue Oct 29, 2013 7:30am EDT HELSINKI (Reuters) - Operating profit at Nokia's telecoms equipment unit Nokia Solutions and Networks (NSN) fell 33 percent in the third quarter, showing a slowdown in what will be the Finnish company's main business after the sale of its troubled phones division to Microsoft. Nokia forecast that NSN's profit margin would improve in the fourth quarter to around 12 percent from 8.4 percent in the third quarter, helping its shares rise 6 percent. In a positive sign for Microsoft, which is due to take over the handset business sometime in the first quarter of next year, sales of Lumia smartphones jumped 19 percent quarter-on-quarter to 8.8 million units thanks to its launch of new models, and sales of basic mobile phones rose 4 percent from the previous quarter to 55.8 million units. NSN's quarterly core operating profit fell to 218 million euros from 324 million euros a year earlier.

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