AAPL Stock: 117.24 ( -1.06 )

Printed from

Nokia Q2 results reveal $1 billion loss, 4M Lumia sales

updated 12:46 pm EDT, Thu July 19, 2012

Nokia continues to struggle, but doubles Lumia sales

Nokia has posted the latest in a series of mounting losses with its Q2 results (pdf) returning a $1 billion operating loss on the back of the $775 million loss it reported in Q1. On a positive note, its Windows Phone 7 Lumia range reached 4 million sales for the quarter, an improvement quarter-on-quarter of 2 million sales. In another unexpected positive, it managed to increase its net cash by approximately $125 million, boosting its net cash holdings to around $5 billion.

Although the company sold a total of 73 million handsets for the quarter, another quarter-on-quarter improvement thanks to the introduction of its Asha line of feature phones, it faces another tough quarter ahead as it tries to maintain consumer interest in its Windows Phone 7 handsets ahead of the launch of Windows Phone 8 devices around October. With the revelation that current Windows Phone 7 handsets are not upgradeable to Windows Phone 8, this could prove to be a considerable hurdle to overcome.

"We shipped four million Lumia Smartphones in Q2, and we plan to provide updates to current Lumia products over time, well beyond the launch of Windows Phone 8," said Nokia CEO Stephen Elop. "We believe the Windows Phone 8 launch will be an important catalyst for Lumia. During the quarter, we demonstrated stability in our feature phone business, and enhanced our competitiveness with the introduction of our first full touch Asha devices," Elop added.

Looking ahead, Nokia CEO Stephen Elop says that the company is urgently executing its restructuring plans during the ongoing transition away from its obsolete Symbian OS and related devices. As a result, Nokia says that it expects Q3 to "be a challenging quarter in Smart Devices due to product transitions."

by MacNN Staff



  1. wrenchy

    Forum Regular

    Joined: 11-03-09

    Perhaps it's time for the boys from Espoo to start "Peeing in their pants"...

    That will teach them for dissing the Little Green Robot! Drroid!

Login Here

Not a member of the MacNN forums? Register now for free.


Network Headlines

Follow us on Facebook


Most Popular


Recent Reviews

Ultimate Ears Megaboom Bluetooth Speaker

Ultimate Ears (now owned by Logitech) has found great success in the marketplace with its "Boom" series of Bluetooth speakers, a mod ...

Kinivo URBN Premium Bluetooth Headphones

We love music, and we're willing to bet that you do, too. If you're like us, you probably spend a good portion of your time wearing ...

Jamstik+ MIDI Controller

For a long time the MIDI world has been dominated by keyboard-inspired controllers. Times are changing however, and we are slowly star ...


Most Commented