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Nokia posts more bad quarterly earnings but Lumia sales are increasing at strong pace

Written by Andre Yoskowitz (Google+) @ 18 Jul 2013 21:07

Nokia posts more bad quarterly earnings but Lumia sales are increasing at strong pace Finnish giant Nokia reported its second quarter earnings today, and they were once again not pretty.
Net sales were $7.5 billion (5.7 billion) and the company reported an operating loss of 115 million ($150 million). Compared to last year, the improvement is large, however, as the company lost over $1 billion in the same quarter in 2012.

Perhaps more importantly for the company, Lumia Windows Phone sales increased significantly to 7.4 million units sold, up from 5.6 million devices last quarter.

Nokia's "mobile phone" segment, which includes Asha and other feature phones, saw sales drop 27 percent year-over-year to 53.7 million units and its smartphone segment (which includes Lumia and legacy devices) also fell 27 percent by volume due to the final death of Symbian.

CEO Stephen Elop saw a bright future, however, as he expects Lumia devices to finally stop declines in the smartphone segment. The bigger question is likely whether their mobile phone division can stop the bleeding, as well.

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