Published in Mobiles

Nokia announces its Q1 2013 financial results

Lumia might be a saviour after all

Nokia has posted its first quarter earnings and although all is not well in the Finnish mobile giant, there might be a trace of light at the end of that tunnel, as Nokia sold quite a few Lumia smartphones in Q1 2013.

Although it has ended up with an operating loss in Q1 2013, Nokia scored a revenue of US $7.7 billion and sold no less than 5.6 million Lumias, a 30 percent increase over the previous quarter. It certainly does not sound that much if you compare it to number of smartphones sold by Samsung, Apple or other competitors in the smartphone market, but it sounds great if you consider the fact that Nokia solely focuses on Windows Phone devices.

During the Q1 earnings conference call, Nokia CEO Stephen Elop noted that company feels great that they have achieved underlying operating profitability for the third quarter in a row, especially in a highly competitive environment and although they have areas where they are making progress and areas where they are increasing the focus, the positive response to Lumia lineup is a great win for the company.

He also hinted that we can expect more from Nokia in the coming months, noting that they are taking tactical actions and "bringing new innovation to market to address their challenges".

We certainly hope that Nokia will manage to pull it off and report even better financial reports next quarter as more competition is always better for consumers.

Last modified on 18 April 2013
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