April 11, 2012 9:21 am
Nokia’s fiscal Q1 results are to be announced on April 19th, but the company has released a statement outlining what investors can expect, and the outlook is at once hopeful and disappointing. The good news is that the growing Lumia line has sold two million units since it debuted in November. This will only increase as the Lumia 800 and 900 have expanded to other regions including North America.
Overall the company sold 71 million feature phones and 12 million smartphones, including the two million Lumias, on total revenue of EUR 4.2 billion. The smartphone division contributed EUR 1.7 billion of that total, which is down from last year.
“Our disappointing Devices & Services first quarter 2012 financial results and outlook for the second quarter 2012 illustrates that our Devices & Services business continues to be in the midst of transition,” said Stephen Elop, President and CEO of Nokia. “Within our Smart Devices business unit, we have established early momentum with Lumia, and we are increasing our investments in Lumia to achieve market success. Our operator and distributor partners are providing solid support for Windows Phone as a third ecosystem, as evidenced most recently by the launch of the Lumia 900 by AT&T in the United States.”
The company has also lowered its Q1 and Q2 forecasts, blaming transitional negative growth and the difficulty of penetrating saturated markets with new products.
The Lumia 900 recently launched in Canada on Rogers, and the Lumia 710 and 800 are doing well on their respective carriers, so here’s hoping for a quick recovery on Nokia’s part for the rest of 2012.