Another Loss For Nokia: $1 Billion Down In Q2


Nokia have released their second quarter financial results and it’s another bad quarter for the struggling Finnish phone maker. For the third quarter in a row Nokia reported a loss, this time $1 billion. That comes on top of the $1.2 billion Nokia lost in the fourth quarter last year and the $1.7 billion they lost in the first quarter of this year. To be fair mobile phone and Lumia Windows Phone sales did increase during Q2, but the increase wasn’t enough to ward of a loss. Nokia’s revenue for the quarter was 7.5 billion euros and net cash was up year-on-year, but down from the 4.2 billion euros from Q1. The U.S. market is interesting here because Nokia, in conjunction with AT&T, have been really pushing the Lumia 900 there, but only 600,000 smartphones were shipped during the quarter, and that figures includes the Lumia Windows Phone devices. Of that 600,000 it isn’t clear exactly how many were of the latter category, but 4 million Lumia Windows Phone devices were shipped worldwide. In short then it’s another bad quarter for Nokia with a hefty loss and a big ad campaign in the U.S. producing little in terms of getting its flagship Windows Phone handset into customers’ pockets.” via