All Sections

Nokia sold 7.4 million Lumia phones in Q2, but lost €115 million

Nokia has taken its commitment to Windows Phone pretty seriously, with recent numbers indicating that the Finnish manufacturer now accounts for 85% of all Windows Phones sold worldwide. That doesn’t seem to have helped the company in its latest financial results, though, with Nokia losing €115 million (around £99.3 million) in the second quarter of this year.

Revenues at Nokia are down too, with the company taking in €5.695 billion (around £4.92 billion) compared to the €7.5 billion (around £6.22 billion) taken in the same period last year. Still, Nokia has managed to curb its losses dramatically in such a short span of time. This time last year, the manufacturer reported a loss of €826 million (around £713 million).

And Nokia has managed to shift a record number of Windows Phones too. According to the company, a total of 7.4 million Lumia handsets were shipped out across the world in the second quarter, its highest number yet. Compare that to the last quarter when the company shipped 5.6 million phones, and you can see that Nokia is really betting its future on the success of Windows Phone.

Will Nokia manage to completely curb its losses? It’s hard to say. The manufacturer has been pretty aggressive with its smartphone launches as of late, announcing an improved Lumia 920 in the form of the Lumia 925 and 928 not too long ago, then unveiling the 41-megapixel Lumia 1020 shortly after that. The company seems to having more success at the lower end of the scale, though, with reviewers praising phones like the Lumia 620 and 720 for what they offer at their respective price points. If Nokia can continue offering compelling products while ramping up its marketing, then it may yet be able to turn around its fortunes.

Spotted at Engadget/The Verge

Comments