Nokia Q2 Loss of Nearly €500 Million

Ingrid Lunden, PaidContent:

Nokia today reported an operating loss of €487 million for the quarter, a decline of €782 million from the same quarter a year ago, when it made an operating profit of €295 million. The declines seen at the handset maker were near-total, represented by a string of negative percentages down the balance sheet. […]

Every single device category saw declines in sales, from smartphones to featurephones. Before today’s results were posted, analysts thought the company would see a hit from reduced demand for low-end devices, but it was actually the smartphones that saw the biggest decline. That’s the counter point to results from the likes of Apple, which is running away with competitors’ business.

I say they’re toast. They’ve bet their future on Windows Phone 7, which though it looks good, doesn’t seem to be getting any traction in the market.

Thursday, 21 July 2011