Nokia Manages to Turn a Profit, but Smartphone Sales Struggle
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.