Nokia posts operating loss of €115 million despite rising Lumia sales
But the latest quarterly earning figures did show an underlying profitability
Thursday 18 July 2013
Nokia is continuing to battle against the odds to claim a position as the third global smartphone ecosystem. Sales of the company's flagship Lumia range running Windows Phone 8 are rising but the Finnish manufacturers are still suffering yearly operating losses.
The latest release of second quarter earnings for 2013 have shown the company posting an operating loss of €115 million from net sales of €5.695 billion. This still compares favourably to figures from the same time last year where there were losses of €826 million.
However, other's have noted that when examining the company's non-IFRS numbers (this excludes expenses not related to day-to-day business operations, and therefore attempts to identify underlying profitablity), then the profit for the quarter was up - at €303 million.
Part of this success is stemming from record shipments of Lumia Windows Phones - increasing from 5.6 million units to 7.4 million over the past two quarters - though this must be offset against the falling ASP (average selling price) for Nokia devices. The launch of handsets such as the Lumia 520/521 - the cheapest Windows Phone, selling for $140 SIM-free or £11/month - are responsible for the drop.
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