Nokia Q4 Earnings Released; €198 Million Lost from Devices & Services, 8.2 Million Lumias Sold

Nokia have just released their quarterly earnings report for Q4 2013, and although they previously announced that the devices and services would be listed under “discontinued operations” the report gives no indication of how many devices were sold; however the D&S net profit was NEGATIVE €198 Million; a poor display for the possibly last quarter. Profit from the non-discontinued services increased to €408 Million, up from €344 last quarter; with positive results from HERE maps, NSN and the Advanced technologies sector.

Nokia blamed the poor performance of the D&S division on poor sales of both high and low end phones, as well as decreased ASP of their devices:

The decline in discontinued operations net sales in 2013 was primarily due to lower Mobile Phones net sales and, to a lesser extent, lower Smart Devices net sales. The decline in Mobile Phones net sales was due to lower volumes and ASPs, affected by competitive industry dynamics, including intense smartphone competition at increasingly lower price points and intense competition at the low end of our product portfolio. The decline in Smart Devices net sales was due to lower volumes, affected by competitive industry dynamics including the strong momentum of competing smartphone platforms, as well as our portfolio transition from Symbian products to Lumia products.

Update:

According to the Verge, Nokia sold 8.8 Million Lumia devices this past quarter (not exactly sure where that number came from):

Source

Category: Lumia, Nokia, Symbian, Windows Phone