$196 million loss for nokia in Q1:Report

Nokia posted an operating loss of €150 million (PDF), or around $196 million, today on around $7.65 billion in revenue,  with a total revenue for the quarter reaching €5.85 billion ($7.65 billion), which is down from €7.35 billion ($9.6 billion) during the same time last year.

On the brighter side, Lumia handset sales have gone up by 27 percent quarter-over-quarter to 5.6 million units in Q1 2013.

The report shows an overall device volume shipments of 55.8 million units (smartphones and feature phones), or 30 percent less than what the company managed in Q4 2012. As a result, net sales in Devices&Services alone are down 25 percent QoQ to €2.9 billion.

Nokia Siemens Networks, which is part of the Nokia Group, reported a 30% decrease of net sales QoQ to €2.8 billion, but its operating margin went up by 7%. It managed to contribute €210 million net cash to Nokia Group.

Nokia CEO Stephen Elop chimed in with his opinion on the results:

At the highest level, we are pleased that Nokia Group achieved underlying operating profitability for the third quarter in a row. While operating in a highly competitive environment, Nokia is executing our strategy with urgency and managing our costs very well.

We have areas where we are making progress, and areas where we are further increasing the focus. For example, people are responding positively to the Lumia portfolio, and our volumes are increasing quarter over quarter. Nokia Siemens Networks delivered another strong quarter and contributed to an overall improvement in Nokia Group’s cash position. On the other hand, our Mobile Phones business faces a difficult competitive environment, and we are taking tactical actions and bringing new innovation to market to address our challenges.

All of these efforts are aimed at improving our financial performance and delivering more value to our shareholders

Nokia’s total smartphone volumes in Q4 2012 were 15.9 million units – 9.3 million Asha full-touch ‘smartphones’, 4.4 million Lumia smartphones and 2.2 million Symbian smartphones. That was noteworthy as it was the first that Lumia device numbers had exceeded those of Symbian.

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