Monday, April 15, 2024

Nokia Sells More Lumia Smartphones, But Still Posts a Loss

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Nokia’s sales of its Windows Phone-powered Lumia line rose in the second quarter, but that wasn’t enough to overcome the lagging sales of its other phones. The company posted a disappointing loss.

BBC News reported, “Nokia shares have tumbled 4% after the company released weak second quarter sales. The mobile phone company reported sales of 5.69bn euros ($7.46bn, £4.92bn) for the three months to the end of June, down 24% on the same period last year.”

PCWorld’s Peter Sayer added, “Nokia sold 7.4 million Lumia smartphones in the second quarter, its best yet for sales of the Windows Phone devices, but still made a net loss.”

CNNMoney’s Alanna Petroff explained, “Nokia has been struggling for years as it competes against smartphone leaders such as Samsung and Apple. In the first quarter alone, Nokia lost nearly 5 percentage points of global market share, according to research firm Gartner.”

TechCrunch’s Ingrid Lunden noted, “The company continues to pursue a two-level model where devices are concerned. On one hand, it is looking to attract smartphone newbies who may have previously been still been using feature phones, or who are less inclined to pay premium prices. For these it is rolling out more lower-end smartphones and high-end feature phones for those spending less money in emerging and developed markets. On the other, it’s trying to keep its reputation as a leader in the field by pushing boundaries on new features, such as the 41 megapixel camera that it unveiled in the Lumia 1020 last week.”

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