Nokia lives to fight another day as sales, losses are better than expected

Nokia’s share price is up 8% after it reported narrower losses than expected, losing 68 million euros on  8.98 billion euro revenue.

The company still shipped 106.6 million units, better than the 93.6 million phones analysts expected.

The results “indicate that our sales execution and channel inventory situation have improved,” Elop said in the statement.

Microsoft has confirmed the company will be announcing multiple Windows Phone 7.5 handsets next week at Nokia World, which Nokia hopes will stem the tide of its falling smartphone market share, and Microsoft hopes will along the way also provide a tremendous boost in Windows Phone 7 volume.

Read more at Bloomberg here.