Nokia Ships 4 Million Lumias, Loses $1.7 Billion For The Quarter
Nokia has reported their quarterly earnings and it is not looking good. Their losses for the second quarter are about four times the loss from a year ago. However they are happy to report that they have shipped a solid number of Nokia Lumias powered by Windows Phone. Four million Lumias were shipped in the fourth quarter compared to 2.2 million in the first quarter.
Nokia’s overall loses for the quarter was 1.4 billion euros (around $1.7 billion) compared to a $450 million loss from one year ago. Nokia CEO Stephen Elop is a former executive at Microsoft. The company is facing immense competition from Apple iPhones and Google Androids.
“We shipped four million Lumia Smartphones in Q2, and we plan to provide updates to current Lumia products over time, well beyond the launch of Windows Phone 8. We believe the Windows Phone 8 launch will be an important catalyst for Lumia,” said Elop.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry