Nokia Lumia sales continue to grow

Nokia’s Lumia handsets continued their upwards trajectory, with the smartphones shifting 8.8 million handsets during its most recent trading quarter, up almost 20% on its previous quarter.

The manufacturer’s devices unit will be transferred to Microsoft in the New Year after the companies signed a €5.4bn deal in September. Nokia said that its entry level Lumia 520 devices proved popular although it appeared the handsets are finally making headway in the United States. Mobile sales, driven by its Lumia 1020 device, quadrupled to 1.4 million units in the region during the quarter.

Nokia continues to lag behind Samsung and Apple, which almost entirely carve up the smartphone market between them. The company’s finance chief Timo Ihamuotila said rife competition was one of the main reasons it sold its handset wing to Microsoft. He told investors: ‘We continue to see competitive challenge at the higher-end of the market, both in terms of pricing and required marketing support.’ Despite smartphone sales increasing by 8% to €1.25bn and feature phone sales increasingly sequentially by 6% to €1.49bn, its operating loss more than doubled to €86m.

Author: Graeme Neill – Source 30.10.2013


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