Up premarket following its Q3 report, Nokia (NOK -3.2%) has turned negative. Ongoing cash burn...

|About: Nokia Corporation (NOK)|By:, SA News Editor

Up premarket following its Q3 report, Nokia (NOK -3.2%) has turned negative. Ongoing cash burn and a 38% Q/Q drop in smartphone shipments to 6.3M seem to be overshadowing a revenue beat (fueled by strong Asha phone sales) and slight operating profit. Also, Nokia's total mobile phone ASP fell 10% Q/Q and 16% Y/Y to EUR43, thanks to a mix shift from smartphones (EUR155 ASP) to feature phones (EUR31 ASP). European volumes rose 10% Q/Q, but Chinese volumes fell 27%.