Nokia post steady Q1 2013 results as Lumia sales start to take off

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nokia-lumia-620-unveiled-wp8-0.jpgNokia seem to have finally turned the corner, with the release of their Q1 2013 financial results showing solid sales of their Lumia line up.

The Finnish company has posted net sales of 5.85 billion Euros for the quarter, selling 5.6 million Lumias – a 30% increase over the last quarter. That results in a loss of €339 million, an improvement over the €1.57 billion loss over the same period a year earlier.

It’s small fry compared to the wild profits being posted by Apple and Samsung, but considering the dire situation the brand was in just a year ago, it seems things are finally looking up for the veritable mobile manufacturer.

“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,” said Stephen Elop.

“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. “

Elop also teased some interesting developments in the smartphone space are on the way from Nokia later this year, echoing the rumours we posted earlier. “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,” he said.

Gerald Lynch