Nokia's Lumia sales are up and its finances aren't quite as bad as before

18th Jul 2013 | 13:46

Nokia's Lumia sales are up and its finances aren't quite as bad as before

But it's still in the red

Nokia has reported its latest financial results and things aren't looking quite so bad as they were a few months ago.

The Finnish firm's profits are… well, they're still not in positive figures but the losses are lower than they have been for a while.

Nokia says it made a loss of €115 million (around £99m, $150m, AU$165m), which is a big number, sure, but significantly smaller than Q3 2012's losses of €969 million (around £785m, $1.2bn, AU$1.2bn), for example.

Lumianary

The reason being that Nokia's big restructuring project is settling down and its Lumia range is picking up pace.

Nokia boasts a 32 per cent increase in Lumia volumes compared to the first portion of the year - 7.4 million devices made, to be exact, with Nokia claiming that this is "reflecting strong demand from customers for a broadened Lumia product range".

For some context, July to September 2012 saw Nokia shift 2.9 million Lumias, while 4.4 million were boosted in October to December and 5.6 million in the first quarter of 2013.

CEO Stephen Elop is pretty happy, saying, "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."

So there's plenty more to come from the Nokia camp. Stay tuned.

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