AfterDawn: Tech news

Nokia posts another huge loss, but shows some improvement

Written by Andre Yoskowitz @ 19 Jul 2012 12:18 User comments (3)

Nokia posts another huge loss, but shows some improvement Nokia reported its quarterly earnings earlier this morning, which as expected, were a disaster.
The company had an operating loss of 826 million, and would have been much worse had it not been for a crutch by Microsoft.

Microsoft pays Nokia royalties on a quarterly basis, and the most recent check led to a rise in net cash of 102 million. Last quarter, even with Microsoft helping, the Finnish company showed a loss of 1.3 billion, its largest ever.

Lumia sales, since launch, totaled 4 million. In the U.S. and Canada, Nokia only shipped a total of 600,000 units during the quarter, meaning the Lumia 900 was certainly a flop, even at its $99 price tag. The company has since slashed the price to $49 to spur sales.

While the Lumia sales were not a complete mess, Nokia's feature phone and Symbian/MeeGo phone sales continue to fall, with overall sales down 4.8 million compared to the comparable period last year.

Nokia says it expects the third quarter to be "challenging," as well.

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3 user comments

120.7.2012 11:32

People should really take a good loook at the Lumina 900, this is a great phone and I have had one for 2 months and love it. I have had many others and by far this is the best phone I have had. The Windows phone O/S is also very good, both should be doing better then they are. People and phone reps at the store level dont understand the product and just how easy it is.

Anyone using Hotmail/Live - facebook and other programs - can be up and running with full contact list in less them 5 minutes.

The sad part is the new phone 8 does require more juice then the 900 can give, so Windows 8 will not work on this phone. Nokia took too long to release this great phone in the US/Canada.

220.7.2012 15:38

But hope that Nokia launch a a phone in the launch day of windows 8.

320.7.2012 16:22

For having a loss, I would take it gracefully along with:
..fifteen percent rise in stock price
..Cell phones and services rose to 45% in North America
..the four million Lumias sold during the quarter was one million more than forecasted.

Someone sees a future in Nokia and is willing to bet on them. That alone will keep the naysayer in nightmare land for another quarter or two!!

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