Nokia Revenue Falls, 7.4 Million Lumia’s Sold in Q2By: Sean Patterson - July 18, 2013
Nokia today released its second quarter 2013 earnings report. Though predictions for the company were not hopeful, Nokia managed to post a mixed bag of financial signals. The company posted a €115 million loss in operating profit, a massive improvement over the €824 million loss Nokia posted for the second quarter of 2012. However, Nokia’s net sales were down 3% from the second quarter, to €5.69 billion from €7.54 billion the previous year.
Though Nokia’s device sales decreased 32% from the second quarter of 2012, the company’s Lumia phones saw growth from the previous quarter. Lumia phone shipments hit 7.4 million units during the second quarter of 2013, a 32% increase from the first quarter of 2013. Nokia last week announced its latest Windows Phone 8 Lumia smartphone, the Lumia 1020. The device is being touted for its 41-Megapixel camera and accompanying photography features.
According to Nokia CEO Stephen Elop, Nokia plans to lean more on Nokia Siemens Networks for its future growth, and plans to purchase the network for itself.
“We benefited from another strong performance at Nokia Siemens Networks, which continued to deliver well against its focused strategy,” said Elop. “With our recent announcement to purchase Siemens’ 50% stake in Nokia Siemens Networks, we believe we will create value for Nokia shareholders and look forward to strengthening Nokia Siemens Networks as a more independent entity.”