FINNISH PHONE MAKER Nokia reported its second quarter earnings on Thursday, which show that the firm might be on the road to recovery.
That doesn't mean Nokia has posted massive revenues and huge profits, but it seems like the firm's huge 2012 losses are finally behind it. Nokia revealed a €115 million loss for the second quarter, improving from the first quarter when the firm posted a loss of €150m.
Nokia also reported that its smartphone sales were up 21 percent quarter on quarter, with the firm managing to shift a record 7.4 million Lumia devices between April and June, up from 5.6 million in the first quarter.
Nokia might be feeling pretty smug about this, given Blackberry's recent dismal financials, and it reflects that the firm has managed to capture 85 percent of the Windows Phone 8 market.
It's not all good news though, as Nokia revealed that the average selling price of its smartphones is down 18 percent compared to first quarter, now coming in at €157. That's likely due to the growing popularity of its cheaper Lumia devices, with the Nokia Lumia 520 reportedly becoming the most popular Windows Phone device on the market.
It's continuing to struggle to make much of an impact in North America too, with its sales there down 16 percent year on year.
In perhaps not such bad news, Nokia also said that demand for its Symbian phones has disappeared completely. The firm said, "Our Symbian volumes decreased from 6 million units in the second quarter 2012 to approximately zero in the second quarter 2013."
Nokia CEO Stephen Elop seemed pleased with the results, and said he expects the firm's Lumia lineup to continue to drive Nokia back to recovery. He said, "We are very proud of the recent creations by our Lumia team, from the Lumia 520 - our most affordable Windows Phone 8 product which has enjoyed a strong start in markets like China, France, India, Thailand, the UK, the US and Vietnam - to the Lumia 1020, our star imaging product which we unveiled to the world last week.
"Overall, Lumia volumes grew to 7.4 million in the second quarter, the highest for any quarter so far and showing increasing momentum for the ecosystem. During the third quarter, we expect that our new Lumia products will drive a significant part of our Smart Devices revenue." µ
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