It’s no secret that Nokia has been struggling in the marketplace following its transition to Windows Phone, but the company’s latest financial results may finally be showing some signs of progress. Nokia’s Q1 2013 results show a total turnover of $7.7 billion with an operating loss of $196 million. That may sound bad at first, but it’s a significant improvement on the $1.7 billion loss the company reported during the same period last year.
In addition to slowing losses at the company, Nokia managed to ship 5.6 million Lumia devices in total during the entire quarter, up from the 4.4 million units it shipped last quarter. That’s a record high for the smartphone manufacturer, most likely a result of the company expanding its handset reach into the budget and mid-range areas of the market.
Still, it’s a long way away from the kind of numbers that Apple and Samsung are reported each quarter. To put things into context, both companies are estimated to have shipped 36.9 million and 61.6 million phones respectively during Q1.
Nokia CEO Stephen Elop is encouraged by the results, however, saying in a statement that “people are responding positively to the Lumia portfolio” as shipments increase each quarter. Indeed, the Lumia 920 was received positively when it was released, and people are starting to take further interest in the range given the affordability of handsets such as the Lumia 720 and Lumia 520. Nokia still faces strong competition, but it doesn’t look to be out for the count just yet.