Nokia warns of weak Q3 2012 results: Update – Not so

burning-moneyNokia will be announcing their Q3 2012 financial results this Thursday, and the question on everyone’s mind is not if it will be bad, but how bad.

According to rethink-wireless Nokia has issued a warning about the results, saying  performance would be weak, especially in its largest business unit, Devices & Services, but has not said how bad it will be.

The issue is largely expected to be due to a more rapidly than expected drop in Symbian sales, which was to sustain the company during their transition to Windows Phone, but was not helped by their current Windows Phone range being obsoleted by a lack of Windows Phone 8 upgrade.

Windows Phone sales doubled from 2 million in Q2 to 4 million in Q2, but analysts on average only expect around 3.7 million have been sold in Q3 2012.

We expect a bit more, in the 5 million range, but even this number is unlikely to offset Symbian losses.

All eyes are now turned to Q4 performance and brewing demand for the Nokia Lumia 920, and the biggest issue for Q3 will not simply be sales, but if Nokia has managed to control their cash burn rate to allow them to continue their path.

Do our readers think Nokia will make it? Let u know below.

Update: Nokia has contacted us and have denied any such warning has been issued, and that the Rethink-Wireless story has been removed. While this does not mean Nokia is out of the woods, it does suggest at least that things are not any worse than they expected, and may even be better.

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