INSTANT VIEW: Nokia posts Q3 EPS loss, sales soft

STOCKHOLM (Reuters) - Top mobile phone maker Nokia lost 0.15 euros per share after a hefty charge at Nokia Siemens Networks (NSN), against expectations for a small profit, while group net sales came in below consensus forecasts.

Nokia shares, which had been up 3 percent just after the results, turned negative as the market digested the news.

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Following are views from analysts on the results:

HAKAN WRANNE, SWEDBANK

"Nokia delivers pretty much in line with the market's rather high expectations. Some higher expectations have fueled the share price recently, among other things due to a good report from Intel."

"Looking at the different segments, Networks looks weak, but that is no surprise. More importantly, the smartphones have not done well."

MARTTI LARJO, NORDEA

"The only positive factor was the EPS cleaned from one-offs."

"In smartphones the 35 percent market share is surprisingly small. Nokia has clearly lost share more than what was forecast."

HANNU RAUHALA, POHJOLA BANK

"On the whole, results were in line with expectations."

"The market share seen for the fourth quarter was a bit soft, and the networks writedown was a surprise, but does not explain the share reaction. I don't know how relevant it actually is since Nokia's business is phones."

"Gross margin in devices was also softer than forecast ... so we're keenly awaiting comments from the (conference) call."

MICHAEL SCHRODER, FIM:

"Overall the market share is OK but the losses in the smart phones market share are bigger than expected. The writedown of 908 million euros (at NSN) is also clearly negative. Nokia Siemens Networks performed quite poorly during the third quarter."

GREGER JOHANSSON, REDEYE

"The only reasons I can see that the share is down are Nokia Siemens Networks and the fact that they're guiding for component problems in Q4, and that they lose market share in the more advanced phones. Those are the negative things that I've seen, but I don't think it explains the big share price fall."

JARI HONKO, EQ BANK

"Based on a first glance, the results are very divided, with mobile phones positive and networks negative."

"For the mobile phones market and for Nokia there are positive upgrades, Nokia seems to have managed better than expected."

"But many investors did not see NSN as gloomy, so the writedown is quite a big disappointment."

THOMAS LANGER, WEST LB

"It seems to me that they did very well on cost management, it is something that you usually would expect from a company such as Nokia. I think that on the volume device unit outlook for the year, down 7 percent, I think that is okay."

"I see that they are not forecasting a handset market share increase in the fourth quarter. That is something that I think every analyst pencils in for the Christmas season, because that is where we usually should see more strength in Western Europe and North America. Obviously, this does not help Nokia this time around."

On Nokia Siemens Networks: "I think there will be more and growing pain in mobile infrastructure, and especially the hint that some product areas are not performing that well. That supports my conclusion that we will see more M&A and more consolidation in the sector."

"So overall, I have to say it is kind of a mixed bag with a negative bias. Good operational performance in Q3, but I think that the big picture doesn't look that well."