Nokia shipped 5.6M Lumia
Nokia reported its latest first quarter earnings on Thursday, sending a clear signal to partner Microsoft that it continues to struggle getting back on the financial track.
It comes only a few days after Microsoft, Nokia’s partner in the smartphone space, said that it thinks the Finnish phone maker is doing “great,” and has no plans to roll out a Surface-branded smartphone of its own.
Lumia shipments were up by more than 25 percent to 5.6 million shipments during the first quarter, up from 4.4 million during the fourth quarter. This falls in line with analyst expectations.
By comparison, according to Reuters, Apple shipped close to 37 million iPhones and Samsung leaped ahead with more than 61 million smartphones during the quarter.
Nokia said that its overall smart device shipments totaled just 6.1 million devices during the quarter — Lumia smartphones included — as well as Asha devices.
Looking ahead, the phone maker said that it estimates Lumia shipments to increase by more than 27 percent in the coming quarter
All in all, total sales were down by about 25 percent year over year.
Nokia chief executive Stephen Elop noted that tough competition in the smartphone market was the main reason behind the fall in phone sales.
The phone maker reported a first-quarter net loss of 0.07 euros (9 cents) a share on sales of 5.85 billion euros ($7.64 billion). Excluding items, it posted a loss of 0.02 euros (3 cents) a share, down from 0.08 euros a year ago.
Nokia was expected to lose 0.04 euros (5 cents) per share on revenue of 6.63 billion euros ($8.73 billion). Compared to the year ago quarter, however, when Nokia announced an operating loss of 1.34 billion euros on 7.35 billion euroes in revenue, things are certainly looking better this time around.
The company’s operating loss was 150 million euros ($195.9 million), representing an overall operating margin of -2.6 percent.
Nokia also noted that it ended the quarter with 4.5 billion euros ($5.88 billion) in cash, down from 4.9 billion euros ($6.39 billion) cash on the same quarter a year ago.
Correction at 4:55 a.m. PT: An earlier version of this story said Nokia reported “weaker than expected earnings.” Nokia beat expectations, but still made a loss.