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Nokia maintains small opg profit as Lumia sales up 27% in Q1
2013-04-18 12:01:00| Telecompaper Headlines
(Telecompaper) Nokia reported a continued decline in results in the first quarter, but managed to maintain a small operating profit and improve sales of its flagship Lumia smartphones. Revenues fell 20 percent from a year earlier to EUR 5.85 billion, while the adjusted operating result was a profit of EUR 181 million versus a loss of EUR 258 million a year ago. The net loss narrowed to EUR 0.07 per share from EUR 0.25. The main Devices & Services division posted an adjusted operating profit of EUR 4 million, on sales down 32 percent to EUR 2.89 billion. While total smartphone sales were down 49 percent annually and 8 percent from Q4 to 6.1 million units, Nokia managed to improve Lumia sales 27 percent sequentially to 5.6 million. Feature phone sales were down 21 percent year-on-year and 30 percent from Q4 to 55.8 million units, with Nokia blaming stronger-than-usual seasonality and tough competition. Nokia said the difficult market conditions are expected to continue in Q2, when Devices & Services is expected to post a negative adjusted operating margin of around 2 percent, plus or minus four percent points. However sequential growth in Lumia shipments is expected to be higher in Q2 than the 27 percent in the past quarter.
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Category:Telecommunications