The Verge - Nokia Q2 results reveal $1 billion operating loss, 4 million Lumia handsets sold, and a lack of US penetrationhttps://cdn.vox-cdn.com/community_logos/52801/VER_Logomark_32x32..png2012-07-19T08:15:24-04:00http://www.theverge.com/rss/stream/29333112012-07-19T08:15:24-04:002012-07-19T08:15:24-04:00Nokia: Lumia activations 'flat, to up' in the weeks following Windows Phone 8 announcement
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<img alt="Stephen Elop" src="https://cdn.vox-cdn.com/thumbor/QpPyyibLNiMk84s9KOl31R37c-Y=/0x0:1019x679/1310x873/cdn.vox-cdn.com/assets/864928/dsc-0358.jpg" />
<figcaption>Stephen Elop</figcaption>
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<p>Microsoft introduced its <a href="http://www.theverge.com/2012/6/20/3096667/windows-phone-8-screenshots-features-nfc-start-screen-dual-core">Windows Phone 8 operating system</a> in late June and Nokia appears to be confident it hasn't impacted its Lumia Windows Phone sales. Speaking on a Nokia investor call today, CEO Stephen Elop revealed "Lumia activations were flat to up in the weeks following Windows Phone 8 announcement." <a href="http://www.theverge.com/2012/7/19/3169140/nokia-q2-2012-financial-report#">Nokia posted</a> a $1 billion operating loss for Q2 2012, selling<a href="http://www.theverge.com/2012/7/19/3169153/nokia-lumia-sales-4-million-q2-2012"> four million Lumia devices</a> in the quarter.</p>
<p>The Finnish phone maker now plans to focus on Lumia updates. Elop mentioned all of Nokia's existing Lumia devices will receive a <a href="http://www.theverge.com/2012/6/20/3096945/windows-phone-7-8-upgrade-no-windows-phone-8-existing-devices">Windows Phone 7.8 update</a> and that the company is committed to releasing exclusive apps for its devices. Nokia is also planning to release "competitive" smartphones with Windows Phone at higher and lower...</p>
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https://www.theverge.com/2012/7/19/3169308/nokia-lumia-activations-flat-to-up-after-windows-phone-8Tom Warren2012-07-19T06:56:08-04:002012-07-19T06:56:08-04:00Nokia's North American phone shipments fall flat in Q2, just 600,000 phones sold
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<img alt="Stephen Elop Windows Phones 1020" src="https://cdn.vox-cdn.com/thumbor/cZC_AbGSmBOYvJ3sJJoEsaXcMbo=/2x0:1018x677/1310x873/cdn.vox-cdn.com/assets/918938/NokiaWorldElop_1020.jpg" />
<figcaption>Stephen Elop Windows Phones 1020</figcaption>
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<p>Nokia's Rolling Thunder strategy for reconquering the US smartphone market <a href="http://www.theverge.com/2012/4/19/2959631/operation-rolling-thunder-starts-with-a-whimper">continues to struggle</a> after only six months. In its bleak <a href="http://www.theverge.com/2012/7/19/3169140/nokia-q2-2012-financial-report">earnings report today</a>, Nokia revealed it shipped just 600,000 handsets in North America during its latest Q2 2012, down from 1.5 million in the same period last year. The 60 percent drop year-on-year, coupled with an <a href="http://www.theverge.com/2012/4/19/2959631/operation-rolling-thunder-starts-with-a-whimper">identical ship rate</a> in Q1 2012, shows that the company's risky bet on Windows Phone is still a slow starter.</p>
<p>Nokia's 600,000 figure encapsulates phones in general, rather than the specific smartphone segment, but it does show that <a href="http://www.asymco.com/2012/07/13/how-many-lumia/" target="_blank">analyst estimations</a> of 330,000 Lumia sales in the US over a period of around four months may be accurate. The firm revealed <a href="http://www.theverge.com/2012/7/19/3169153/nokia-lumia-sales-4-million-q2-2012">four million Lumia sales in Q2 2012</a>,...</p>
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https://www.theverge.com/2012/7/19/3169199/nokia-phone-sales-figures-operation-rolling-thunderTom Warren2012-07-19T06:02:10-04:002012-07-19T06:02:10-04:00Nokia posts $1 billion operating loss for Q2 2012, net cash up $125 million
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<img alt="Nokia Q2 2012" src="https://cdn.vox-cdn.com/thumbor/wYiRgBle1FihsGgyEXZL37S_SZs=/1x0:639x425/1310x873/cdn.vox-cdn.com/assets/1245276/nokq2_640.jpg" />
<figcaption>Nokia Q2 2012</figcaption>
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<p>Nokia has just posted its <a target="_blank" href="http://www.results.nokia.com/results/Nokia_results2012Q2e.pdf">Q2 2012 financial report</a>, revealing a total operating loss of €826 million (around $1 billion). The loss was offset by large licensing royalties and a regular quarterly cheque from Microsoft, resulting in a net cash rise of €102 million (around $125 million). The Finnish company <a href="http://www.theverge.com/2012/4/11/2940632/nokia-q1-2012-financial-outlook-adjustment">previously warned investors</a> that its Q2 results were likely to be "similar to or below" <a href="http://www.theverge.com/2012/4/19/2959563/nokia-q1-2012-financial-report/in/2723958">its enormous €1.3 billion</a> (around $1.6 billion) operating loss in the first quarter, but performance this quarter is slightly above analysts' expectations.</p>
<p class="p1"><q class="right">Windows Phone sales double</q></p>
<p class="p1"><a href="http://www.theverge.com/2012/7/19/3169153/nokia-lumia-sales-4-million-q2-2012">Lumia sales reached four million</a> — double last quarter's two million, and in keeping with Nokia's "Rolling Thunder" plan for Windows Phone. Rolling Thunder was Nokia's...</p>
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https://www.theverge.com/2012/7/19/3169140/nokia-q2-2012-financial-reportAaron Souppouris2012-07-19T06:01:46-04:002012-07-19T06:01:46-04:00Nokia ships 4 million Lumias in Q2 2012, over 7 million to date
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<img alt="Nokia Lumia 610 review software" src="https://cdn.vox-cdn.com/thumbor/XCu6XAoElYXYF5KXAKl9fAj1RUg=/2x0:797x530/1310x873/cdn.vox-cdn.com/assets/1152344/noklumia610review10.jpg" />
<figcaption>Nokia Lumia 610 review software</figcaption>
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<p>Nokia's previous quarter saw the company <a href="http://www.theverge.com/2012/4/19/2959588/nokia-lumia-us-uk-launch-expectations-stephen-elop/in/2723958">describe the UK market</a> as a "more challenging" one than the US — where Lumia sales exceeded expectations. Nokia has <a href="http://www.theverge.com/2012/7/19/3169140/nokia-q2-2012-financial-report">just announced its Q2 2012 financial results</a> today, and the company has revealed four million Lumia devices were sold in its recent quarter — beating <a href="http://in.reuters.com/article/2012/07/11/idINL6E8I83FI20120711" target="_blank">analyst predictions</a> by 200,000. After selling <a href="http://www.theverge.com/mobile/2012/1/26/2736024/nokia-lumia-1-million-sales">over one million</a> Lumia devices during its final quarter of 2011, and <a href="http://www.theverge.com/2012/4/11/2940632/nokia-q1-2012-financial-outlook-adjustment">two million</a> in Q1 2012, the latest figure shows that <a href="http://www.theverge.com/2011/12/29/2668288/nokia-rolling-thunder-the-finnish-company-attempts-to-conquer-the-usa">Nokia's Rolling Thunder</a> approach is working at a slow and steady pace with over 7 million units shipped to date.</p>
<p>Nokia now faces the challenge of ensuring there's enough consumer interest in its Lumia range to see it through Q3 until <a href="http://www.theverge.com/2012/6/20/3096667/windows-phone-8-screenshots-features-nfc-start-screen-dual-core">Windows Phone 8</a> arrives later this...</p>
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https://www.theverge.com/2012/7/19/3169153/nokia-lumia-sales-4-million-q2-2012Tom Warren2012-04-11T08:15:38-04:002012-04-11T08:15:38-04:00Nokia says Q1 financials will disappoint even as it sells two million more Lumia phones
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<img alt="Nokia Lumia 900 hero (1024px)" src="https://cdn.vox-cdn.com/thumbor/c_ogLu4g9TqblPa_Z_FYilZYy88=/2x0:1022x680/1310x873/cdn.vox-cdn.com/assets/1040757/P1060488-hero.jpg" />
<figcaption>Nokia Lumia 900 hero (1024px)</figcaption>
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<p>Ahead of its Q1 2012 earnings results, Nokia has lowered its first quarter 2012 financial outlook — the company expects its Devices and Services operating margin to be approximately negative three percent, compared to previous expectations of a break-even quarter. Specifically, Nokia noted that "competitive market dynamics" negatively affected sales in the mobile phone and smart device business units. As to where the company underperformed, Nokia said it had particular trouble in the Middle East, India, Africa, and China. The company is currently estimating Q1 mobile device sales of 71 million units, with 12 million units sold from its smart devices division.</p>
<p><q class="right">While the Lumia is gaining traction, Nokia is fighting off a number of...</q></p>
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https://www.theverge.com/2012/4/11/2940632/nokia-q1-2012-financial-outlook-adjustmentNathan Ingraham