Nokia reports losses for Q2 2013

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Finnish cellphone company Nokia has reported their financial results for Q2 2013, posting revenue of around $7.5 billion. Unfortunately this is tied to an operating loss of about $151 million, however these results were in line with what the company was expecting from the quarter.

Nokia isn’t out of the woods yet but the financial results for the second quarter of the year are an improvement over the same period last year, as far as the operating loss goes. This improvement was helped along by Nokia having a record quarter for Lumia smartphone shipments, shifting 7.4 million units compared to Q1’s 5.6 million.

The bulk of handsets sold by the company were still feature phones, though the number of devices sold is down from 55.8 million in Q1 to 53.7 million in the reported quarter. The poor sales here have not helped Nokia’s stock price, the BBC reports that Nokia’s shares have fallen 5.6% since the company announced their financial results.

Source: The Verge

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