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NewsPoster Jul 18, 2013 08:58 AM
Nokia financials show improved Lumia sales, $151M operating loss
Nokia appears to be stabilizing itself financially, though it is still not profitable, according to its latest quarterly results <a href="" rel='nofollow'>report</a>. The Finnish phone producer managed to receive revenues of 5.7 billion euro ($7.5 billion) and an operating loss of 115 million euro ($151 million), a minor decrease from the 5.9 billion euro ($7.7 billion) revenue and 150 million euro ($197 million) loss of the <a href=" percent/" rel='nofollow'>first quarter</a>, but an improvement from the 824 million euro ($1 billion) loss in Q2 <a href=" s/" rel='nofollow'>last year</a>.<br />
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<a href="" rel='nofollow'>Lumia</a> sales have improved in the quarter, going from the 5.6 million sold last quarter to 7.4 million, which means that Nokia is shipping more Lumia-specific devices in the quarter than <a href="" rel='nofollow'>Blackberry</a> is shipping for its entire catalog. Asha sales have gone down to 4.3 million from the five million in the last quarter, while mobile phone sales in general have decreased four percent quarter-on-quarter to 53.7 million units. Symbian device volumes decreased heavily year-on-year, going from 6 million units in Q2 2012 to "approximately zero" in the last quarter.<br />
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Nokia Here net sales improved by 8 percent in the quarter to 233 million euro ($3.5 million), with the operating loss for the unit marginally improving from 97 million euro ($127 million) to 89 million euro ($116 million). Nokia Siemens Networks, the jointly-owned company that Nokia has agreed to <a href="" rel='nofollow'>buy out</a> from Siemens for $2.2 billion, made a profit of 8 million euro ($10 million) from 2.8 billion euro ($3.7 billion) in sales. <br />
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While the relatively-positive changes is helping Nokia head towards profitability once again, the company is still looking to make some more alterations. CEO Stephen Elop stated "our Mobile Phones business unit is planning to take actions to focus its product offering and improve product competitiveness." The report estimates that up to 440 jobs globally will be affected by the restructuring, with new positions and redeployment options also touted.
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