• Wednesday, May 29, 2024
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Nokia reports highs and lows in Q1 results

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Nokia announced mixed results for the first quarter of 2013, with its mass market Mobile Phones unit taking its turn to weigh on the company’s numbers.

In a statement, Stephen Elop, chief executive officer of the company said: “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’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 the challenges,” he continued. In the company’s core Devices and Services business, it saw an operating loss of EUR42 million, compared with a prior year loss of EUR218 million, on sales of EUR2.89 billion, down from EUR4.25 billion.