Nokia releases Q1 2012 results, €1.34 billion loss

Nokia have released their Q1 2012 results and are showing sales of €7.4 billion and a loss of €1.34 billion. Nokia’s mobile phone sales have fell 32% compared to last year and are down 24% compared to the previous quarter. Nokia’s Stephen Elop release a statment about the loss this quarter.

“We are navigating through a significant company transition in an industry environment that continues to evolve and shift quickly. Over the last year we have made progress on our new strategy, but we have faced greater than expected competitive challenges.

We have launched four Lumia devices ahead of schedule to encouraging awards and popular acclaim. The actual sales results have been mixed. We exceeded expectations in markets including the United States, but establishing momentum in certain markets including the UK has been more challenging.

At the same time, the lower price tiers of our industry are undergoing a structural change, and traditional feature phones are challenged by full touch devices. As a result we are taking deliberate measures to continue to renew our Series 40 platform, and we plan to strengthen our line-up in Q2 2012. We are making investments in our Mobile Phones business unit aimed at addressing the gaps in our offering.

We have a clear sense of urgency to move our strategy forward even faster. We are pursuing step function changes by having launched the Lumia 610 and Lumia 900 in the first quarter, expanding market coverage, increasing advertising, introducing key customer-requested features and broadening our most successful go-to-market activities. At the same time, we have focused our efforts in the low-end of smartphones and feature phone asset to drive improved business results and conserve cash.

We are confident in our strategy and focused on responding urgently in the short term and creating value for our shareholders in the long term.”

There is still hope for Nokia, but things need to change. The fact they are using windows phone as there high end OS will have to start seeing some good returns. The lumia had sales around the 2 million mark, but with Android and iOS still very much on top. Nokia were once the top dog when it came to the mobile market and now they seem to be stuggling with making sales. Perhaps the move for Windows phone was a poorly taught out plan and they are going to loose more money. While on the Symbian side of things. It seems that has had a loss of 38% compared to last quarter aswell. It does look bad for Nokia. Let’s hope they have a plan ahead to increase sales.

Craig O'Sullivan

Creator of Passionate about Technology and always looking for that next cool gadget or app

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