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April 18, 2013 02:07 pm GMT

Nokia Q1 2013 Misses With Sales Of $7.6B With $0.03 Loss Per Share; 5.6M Lumias Sold

Nokia Lumia 720 rangeNokia has just reported is results for Q1 2013 with sales of $7.6 billion and a non-IFRS loss per share of $0.03 (and a reported EPS of $0.09) — a mixed result compared to analyst estimates, who had expected a loss per share of $0.05 on revenues of $8.65 billion (6.6 billion). That estimated loss per share is effectively half of what it was a year ago, when Nokia posted a loss of $0.08 per share. Nokia’s operating loss was $196 million, and while that’s down into the red again compared the previous quarter, when it posted an operating profit of $557 million, it’s a very significant improvement on a year ago, when its operating loss was $1.7 billion. Similarly, operating margin for the quarter was negative 1.5%, a reversal on the 6.8% of last quarter, but much better than the negative 5.1% of a year ago. Analysts had also estimated that Nokia would report sales of 5.6 million Lumia devices for the quarter, and there Nokia was right on target, noting that the 5.6 million Lumias that it has sold are 27% on last quarter. The company has been building out the range of handsets it’s been selling in the last quarter, extending further into midrange and less expensive models. These are small but encouraging signs. To put these Lumia sales numbers in to context, a Reuters survey estimates that in the same quarter, Samsung has shipped 61.6 million smartphones, while Apple has shipped 36.9 million. Here’s how Nokia’s results are breaking down for this quarter: Devices. Not an overall great picture here. Device sales were $3.8 billion, down a full 25% compared to last quarter, and 32% compared to a year ago. Although Lumia sales trends are pointing in the right direction, they are still not big enough to offset Nokia’s other declines. The company’s feature phone business, which it terms simply “mobile phones”, were at 55.8 million units sold — down 30% on last quarter and 21% on a year ago. Within the smartphone segment, the last dregs of Symbian attrition also continue to give the company grief: Nokia sold 6.1 million smartphones in total, down 8% on last quarter, and 49% for the year. Regions. Although mighty China, the world’s biggest smartphone market, used to be Nokia’s oyster, that time has long passed with the double juggernaut of Android and iOS taking away appetite for Nokia

Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/cULgOYgXPXo/

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