Nokia continues to report losses in quarter ended 31st December 2011. The company reported net sales of EUR 10 billion for the quarter, down 21% year-on-year but up 11% sequentially, and its operating losses were at EUR 954 million in contrast to operating profits of EUR 884 million, that it registered in Q4-2010. Nokia CEO, Stephen Elop said that the company was pleased with the performance of its mobile phones business, which benefited in Q4 from sequential double-digit percentage growth in its dual SIM business, with particular strength in India, Middle East and Africa and South East Asia. - In October, it introduced the Asha 200, 201, 300 and 303, which brought new mobile phones into 76 markets across the world. - Nokia introduced Lumia to consumers in Europe, Hong Kong, India, Russia, Singapore, South Korea and Taiwan. - The company claims to have sold 1 million Nokia Lumia devices till date (Not clear if the date was 26th Jan 2012 or the quarter ending) . The devices and services segment business of handset major Nokia contributed EUR 5.9 billion to net sales for the quarter ending December 31st 2011, down 29% year-on-year but up 11% sequentially. The segment reported operating profits of EUR 203 million compared to operating profits of EUR 1.08 billion that the company reported in the same quarter, last year. Smartphone sales decreased by 38% Year on Year and 25% Quarter on quarter, while mobile phone sales (other than smart phones) witnessed a decline of 23% YoY and an increase of 4% QoQ. Gross margin(Non IFRS)…
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Nokia Net Loss At EUR 954M; Overall Handset Sales Down 29% YoY; 1M Lumia Devices Sold Till Date
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