Nokia has another bad quarter, Lumia sales awful

Nokia announced their quarterly earnings this morning, and the numbers were not pretty.

The company saw an operating loss of �969 million ($1.27 billion) for the quarter, on revenue of just �7.2 billion ($9.45 billion).

Even though the company is supported by Microsoft, net cash and cash equivalents fell from �4.2 billion ($5.5 billion) to �3.56 billion ($4.7 billion) in just one quarter, showing the company is burning money fast.

Unfortunately for the company, Lumia sales lagged, with just 2.9 being sold during the quarter, even though the average selling price fell from $244 to $210. For comparison's sake, Apple sold 2 million iPhone 5 in just the first 24 hours of pre-order, and Samsung has sold 20 million Galaxy S III in the last 4 months.

Even worse for investors, the company noted the current quarter would be "challenging...with a lower-than-normal benefit from seasonality in volumes." This means the company does not expect an immediate boost from its upcoming Windows Phone 8-based Lumia 820 and Lumia 920 devices.

Written by: Andre Yoskowitz @ 18 Oct 2012 18:50

m3_chris

No one wants these turd window phones... I work at a phone store that does around 100 activations per month. In the last three months we have sold two windows phones to people who "had to have them" one was returned. Garbage.

18.10.2012 21:22 #1

KSib

It sure isn't helping that the 920 only on AT&T. It's like they hate money.

18.10.2012 22:27 #2

ZeusAV

They're being idiots with that exclusive carrier nonsense. They should be trying to get the device available to as many consumers as possible. Galaxy S3 is available on all 4 carriers. Best selling Samsung phone ever. High end Lumia was AT&T only, low end one was T-Mobile only. Perfect recipe for failure.

18.10.2012 22:45 #3

mukhis

nokia CEO must be fired. they started making crap phones with crap strategies. my nokia n8 symbian battery life has become very LOW after one year and a half, the phone is slow as hell, disconnects often and fails to make a call within another 10-15 sec; horrendous.

18.10.2012 23:43 #4

ragde

Nokia should be like Samsung in a way. They are trying to hug the whole smartphone industry. They make Windows phones, Android phones, and just because Apple doesn't let them or else they would be making the best iOS phones.

19.10.2012 09:43 #5

DVDBack23

Originally posted by ZeusAV: They're being idiots with that exclusive carrier nonsense. They should be trying to get the device available to as many consumers as possible. Galaxy S3 is available on all 4 carriers. Best selling Samsung phone ever. High end Lumia was AT&T only, low end one was T-Mobile only. Perfect recipe for failure They make phones exclusive because the carrier pays for marketing expenses.

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19.10.2012 19:40 #6

KillerBug

Quote:Lumia sales lagged, with just 2.9 being sold during the quarter Was the 0.9 replacement parts or are they just so crummy that each device sold is only considered 1/10 of a phone?

Seriously tho, it is hardly surprising to see these crummy phones failing, especially when they openly admit that they won't be getting updates to WinMo8. Nokia saw everyone betting on Android and decided to bet heavily on the long shot...and it blew up in their faces. Unfortunately for their stockholders, they were blinded by the explosion so they keep doing the same thing.

19.10.2012 20:32 #7

voyager

People are waiting for Nokia Lumia 920 that's why nobody is buying old Numias.

25.10.2012 15:24 #8

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