The third quarter financial report for Nokia shows visible progress and growth as Nokia earned $162 million profit from 7.7 billion revenue. Its Lumia Series sales have reached a record 8.8 million with 100% more sale in North America which is the cause for celebration at the premises of the Finnish giant.
An improvement is visible in the graph of Nokia. The Finnish giant has issued its first financial report after its phone business is taken over by Microsoft. Nokia reports operating profit of $162 million/ €118 million which it has earned from revenue of $7.8 billion/ €5.66 billion. This is in no small part thanks to the Lumia sales which seem to have skyrocketed.
The Q3 report reveals a greater surplus as compared to the last quarterly progress sheet. Nokia sold record 8.8 million Lumia smartphones in Q3 2013. During Q2 2013, 7.4 million units were sold while in Q3 2012, only 2.9 million devices were sold. A huge increase in Lumia sales as compared to last year's same quarter.
Nokia is on cloud nine. Ever since it came up with its original smartphone, the Lumia 800, Nokia has come a long way alright. Over 36.1 million Lumia units have been sold since that fateful day in November of 2011. The Western market has been boosted by a flabbergasting 366%. This more than doubles the previous sale of 700,000 units. Nokia’s rolling thunder attitude towards the Western market has paid off in increasing dividends.
Especially high-selling devices like the Lumia 520 and 521 have made the success rate for Nokia a source of envy in the North American arena. Meanwhile, the Lumia 928 which was unveiled on May 16th has also made its contribution to the soaring crooked line on the graph for Nokia. Gazing further on into the future, one sees that Microsoft will take over Nokia’s business.
Two new tablets in the form of the Lumia 1520 and 1320 were launched recently. And there lies a Lumia 929 in the pipeline. In other words, it has been a very profitable year indeed for a company that was facing difficult times not so long ago.
Timo Ihamuotila, Nokia CFO and interim President, said, "The third quarter was among the most transformative in our company's history. We became the full owner of NSN and we agreed on the sale of our handset operations to Microsoft, transactions which we believe will radically reshape the future of Nokia for the better. Subject to the completion of the Microsoft transaction, Nokia will have significantly improved earnings profile, strong financial position and a solid foundation from which to invest. We are pleased that NSN and HERE both generated solid profitability in what was a seasonally weak third quarter and at a time when we continue to make significant R&D investments into future growth opportunities."