Nokia yesterday said its profit for the third quarter was $2.7 billion, down 30% from last year, on sales of $16.5 billion, down 5% from last year.
The company still dominates the world cell phone market with a 38% share, down slightly, but more than double the share of second-place Samsung. A major factor in the quarter was decreased sales in Africa, China, Europe, the Middle East and North America.
Nokia also said it reached a 15-year agreement with chip maker Qualcomm, in which Nokia will pay nearly $2.3 billion for patent rights.
Cash and assets amount to nearly $9.7 billion, officials said. Fourth-quarter results will be announced Jan. 22, 2009.