Nokia Manages to Turn a Profit, but Smartphone Sales Struggle

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Following-up Apple’s financial figures from yesterday, it’s now Nokia’s turn to let the world know just how its fortunes have fared, and the news, while positively for the company on its surface, reveals an uncertain future as the balance of its phone business continues to shift and adjust to the new focus on Windows Phone devices.

The good news is that last quarter, Nokia actually managed to turn a profit, after quarter after quarter of losses. All things considered, the company ended up $585 million ahead.

We had already heard that Lumia sales had seen a nice uptick, with Nokia selling 4.4 million last quarter. Nokia’s also making more more money on average from each Lumia sold, at least compared to the previous quarter. The problem is that overall smartphone sales, including Symbian models, have sharply dropped off, down to 6.6 million compared to 19.6 million a year ago. Partially as a result of that, and despite this one profitable quarter, Nokia’s still down about $3 billion over the course of the year.

Source: Nokia
Via: The Verge

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About The Author
Stephen Schenck
Stephen has been writing about electronics since 2008, which only serves to frustrate him that he waited so long to combine his love of gadgets and his degree in writing. In his spare time, he collects console and arcade game hardware, is a motorcycle enthusiast, and enjoys trapping blue crabs. Stephen's first mobile device was a 624 MHz Dell Axim X30, which he's convinced is still a viable platform. Stephen longs for a market where phones are sold independently of service, and bandwidth is cheap and plentiful; he's not holding his breath. In the meantime, he devours smartphone news and tries to sort out the juicy bitsRead more about Stephen Schenck!