Nokia’s Q1 2013 Report: Losses despite growing Lumia sales

Nokia today has released their Q1 2013 Interim report.

http://www.nokia.com/global/about-nokia/investors/financials/reports/results—reports/

The reports says that Nokia have shipped a total of 6.1 million smart devices (down from 6.6 million devices in Q4 2012) and 55.8 million mobile phones (down from 79.8 million phones in Q4 2012) in this quarter. The 6.1m smart devices sales contains 5.6 million Lumia devices (up from 4.4 million in Q4 2012) and 0.5 million Symbian devices (down from 2.2 million in Q4 2012). Besides these sales, Nokia have posted a loss of €150 million (up from a loss of €1338 million in Q1 2012) while the Non-IFRS (underlying performance) figures shows a profit of €186 million which includes €4 million underlying profit of Devices & Services unit.

Nokia, this quarter, has also improved their cash pile, going up by €120 million to €4.5 billion this quarter, making the company even more financially stronger. Nokia Siemens Networks contributed €220 million in this.

Average Selling Price (ASP) for smart devices grew to €191 up from €186 in the previous quarter.

Commenting on the results, Stephen Elop, CEO Nokia said:

“At the highest level, we are pleased that Nokia Group achieved underlying operating profitability for the third quarter in a row. While operating in a highly competitive environment, Nokia is executing our strategy with urgency and managing our costs very well.

We have areas where we are making progress, and areas where we are further increasing the focus. For example, people are responding
positively to the Lumia portfolio,
and our volumes are increasing quarter over quarter. Nokia Siemens Networks delivered another strong quarter and contributed to an overall improvement in Nokia Group’s cash position. On the other hand, our Mobile Phones business faces a difficult competitive environment, and we are taking tactical actions and bringing new innovation to market to address our challenges.

All of these efforts are aimed at improving our financial performance and delivering more value to our shareholders.”

Find more here.

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