Nokia just published its quarterly financial report and predictably, the results aren’t good at all. The Finnish smartphone manufacturer reported losses of $754 million. The silver lining to this is that the company has definitely managed to slow down its losses which were reported at $1.01 billion in the previous quarter. The sales of Lumia devices dropped down to 2.9 billion compared to 4 million in the last quarter.
It sold over 77 million units which included 6.5 million units of the Asha. Meanwhile Nokia Siemens reported profits of $238.5 million. Surprisingly, Nokia’s Symbian devices outsold the Lumia series with sales of 3.4 million devices. Sales have dropped substantially in China from 15.9 million in the last quarter to 5.8 million. The ASP (Average Selling Price) for Nokia Lumia devices has now dropped to 160 EUR.
The company has 3.6 billion left in cash reserves and burned through approximately 1.1 billion EUR in Q3 but was helped by a 250 million EUR payment from Microsoft and $320 million from Nokia Siemens.-->
