Nokia's Q4 2013 earnings on the decline while Lumia sells 8.2 million unitsWritten by Manish Singh on January 23, 2014 - 05:47AM @refsrc
Nokia, whose devices and services division will be merging to Microsoft in coming weeks, has reported its fourth quarter’s results and it doesn't look pretty. The world-famous handset giant has suffered a $34 million loss in the given duration, compared to the same period a year ago.
Plunging down by 29%, the giant could only sum 2.6 billion Euros in sales this quarter, as compared to 3.7 billion Euros it did in the same period a year earlier.
Although the company hasn’t revealed the exact figures, from the data we have, it seems like Lumia devices have managed a decent improvement. In fact, Nokia Lumia saw 8.2 million units sold during Q4. For the entire 2013 year, sales were up by 30 million units. But it wasn't enough to compensate the overall loss in the "mobile phones" division.
"The year-on-year decline in discontinued operations net sales in the fourth quarter 2013 was primarily due to lower Mobile Phones net sales and, to a lesser extent, lower Smart Devices net sales. Our Mobile Phones net sales were affected by competitive industry dynamics, including intense smartphone competition at increasingly lower price points and intense competition at the low end of our product portfolio. Our Smart Devices net sales were affected by competitive industry dynamics including the strong momentum of competing smartphone platforms, as well as our portfolio transition from Symbian products to Lumia products," writes Nokia.
In brief, when compared to the third quarter of 2013, Q4 brought better sales, spike in operating profit, as well as hike in Mobile Broadband sales and Global services, but when you compare that result to Q4 earnings of 2012, Nokia has failed in all places. Meanwhile, Nokia's Advanced Technology is a real concern as it continues to go downhill.
You can read the full earnings report by hitting the VIA link below.