Nokia Group posts 2.5% loss on $7.8 billion revenue for Q1, Lumia sales on the rise

Nokia Group posts 2.5% loss on $7.8 billion revenue for Q1, Lumia sales on the rise
Nokia just released its Q1 financials, and it posted a small operating loss of $196 million on a revenue of $7.8 billion. On a non-IFRS basis the company posted its third operational profit in a row. The Nokia Siemens Networks department, which was a huge cash drain before, posted its fourth underlying profitability in a row, though it was the source of hefty restructuring charges, too, which Nokia said will continue to the end of the year.

Lumia sales marked a huge increase of 27% compared to the last quarter of 2012, which is pretty significant, considering Q4 is a holiday quarter, and Nokia managed to sell 5.6 million of its Windows Phone-laden handsets. All for the sake of its non-WP handsets, of course, whose sales registered a steep quarterly decline - 5 million Ashas and 0.5 million Symbian handsets in total.

With the launch of decent ultra-affordable Lumias like the 520, Nokia's other brands are bound to be replaced with the Lumia line to a great extent down the road, and for now the biggest loser is Nokia's HERE6 mapping department, where the company currently invests much more than it takes out. Nokia's CEO Stephen Elop had the obligatory pep talk as a comment to the quarterly results:


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