Nokia’s Smartphone Plan Isn’t Working

Nokia’s first quarter results aren’t great news for the phone-making giant.

Nokia’s Smartphone Plan Isn’t Working

Nokia’s second quarter results for 2013 include revenues of $7.5 billion, which sounds like a great figure. But the company’s profits were essentially zero–at a non-IFRS earnings per share of $0.00. For sure, analysts were expecting the firm would make a loss of $0.0s per share, which means Nokia outperformed on expectations, but they were also expecting revenues of $8.63 billion.

Among the data probably the most significant information is the sales of Lumia smartphones. Nokia says 7.4 million of these devices were sold, up from 5.6 million last quarter.

The company is trying to ensure its future in three different ways: Lumia smartphones are seen as critical because the world is increasingly turning away from dumbphones and featurephones. But Nokia’s also selling low-end, low price phones to the developing world, and it’s also pushing the cameraphone agenda with its impressive PureView phone tech.

[Image: By Flickr user Kārlis Dambrāns]

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