Struggling Nokia takes a big hit on Smartphone sale

While the patent war continue to take the headlines for quite some time between Samsung and Apple, Nokia were backed to reap the benefit by launching a similar smartphone that can challenge the top two companies in the race
to become technology giant.

However, the Finish-based company has failed to deliver as per their expectations as they did not provide their users with a satisfactory model after their wide range of Lumia phone struggled to capture the market.

Consequently, Nokia’s quarterly results appear to have bottomed and they are struggling to alter the situation. If speculations are to be believes, the users prefer to use Android in their phones rather than
to use Windows 8 operating system in their phone.

If we see why there’s a significant drop in the sales, we can easily judge that Nokia have only managed to sell 6.3 million units of Lumia as compared with the number compared with 16.9 million a year ago.

The company’s net income exceeded to 7,200 million Euros, compared to 7,500 in the previous quarter. These stats are worse, but some analysts had expected even worse results.

The losses, on the other hand, are 576 million compared with 71 million a year ago, specifically a total amount of 826 million Euros they they lost in the previous quarter.

Elop’s work seems to have been better at spending cuts (mainly staff) in the generation of resources and attractive new products.

And in line with basic phones, which until recently was number one, Nokia has sold 76.6 million a year ago when it was 89.8 million, while more than 73.5 million units last quarter. Nokia attributed the success
in this sector by offering cheap mobile Asha series.

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Posted by Farasat Ali on Oct 18 2012. Filed under Sci-Tech. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry