Nokia Siemens posts Q3 operating loss

HELSINKI, FINLAND: Nokia's telecom gear venture Nokia Siemens Networks posted a third-quarter operating loss on Thursday, missing forecasts that the unit would turn out a small profit in the period.

Nokia Siemens Networks, a 50-50 venture of Nokia and Siemens, has struggled to make a profit since its 2007 start amid falling operator spending and fierce pricing from Asian rivals Huawei and ZTE.

The unit posted an operating loss of 116 million euros, down from a loss of 53 million a year earlier and compared with a forecast for a 8 million profit in a Reuters poll where estimates ranged widely.

Third quarter sales rose 7 percent from a year ago to 2.94 billion euros, above analysts' average forecast of 2.91 billion in the poll.

Nokia Siemens rival Sweden's Ericsson is expected to report a flat third-quarter core profit when it unveils earnings on Friday.