Nokia reports improved $151m loss in Q2 2013 after selling a record 7.4m Lumia smartphones

Nokia reports improved $151m loss in Q2 2013 after selling a record 7.4m Lumia smartphones

Finnish phone maker Nokia has announced its Q2 2013 financial results, which represent an improvement on the previous quarter of business, despite a slow in sales. The company recorded a loss of €115 million ($151 million) from overall sales of €5.7 billion ($7.48 billion) for the three-month period.

That’s an improvement on Q1 2013, when it reported a loss of €150 million (roughly $196 million) on revenue of €5.8 billion ($7.6 billion) in sales, however Q2 2013 revenue is down 24 percent year-on-year — but loss of €824 million ($1.08 billion) has been improved significantly.

The company’s sales sheet is done on the previous quarter despite selling a record 7.4 million units from its Lumia range, up from 5.6 million units in the previous quarter. That was primarily down to another dip in revenue from feature phones.

Net sales of smartphones came in at €1.2 billion ($1.57 billion) down 24 percent per year and 6 percent quarter-on-quarter, while sales of feature phones dropped 12 percent quarter-on-quarter and 39 percent year-on-year to €1.4 billion ($1.8 billion).

Of the 53.7 million mobile phones that the firm shipped, 4.3 million were from its Asha range, which bridges the feature phone-smartphone gap. No Symbian devices were shipped since the company has stop selling its older devices based on the platform.

Sales in North America showed the most promising growth, charting a 22 percent quarter-on-quarter increase in sales, but that is still down 9 percent year-on-year and proving to be a tricky issue for the company. Revenue in Europe for Q2 2013 fell 9 percent on the previous quarter and was 25 percent lower than a year prior.

Last week, Nokia launched the Lumia 1020, which sports a 41-megapixel, while a filing in China hinted another new addition: the Lumia 625, a mid-range phone that sports a 4.5-inch screen.

Image via AFP / Getty Images

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