Andre Yoskowitz
19 Jul 2012 12:18
Nokia reported its quarterly earnings earlier this morning, which as expected, were a disaster.
The company had an operating loss of €826 million, and would have been much worse had it not been for a crutch by Microsoft.
Microsoft pays Nokia royalties on a quarterly basis, and the most recent check led to a rise in net cash of €102 million. Last quarter, even with Microsoft helping, the Finnish company showed a loss of €1.3 billion, its largest ever.
Lumia sales, since launch, totaled 4 million. In the U.S. and Canada, Nokia only shipped a total of 600,000 units during the quarter, meaning the Lumia 900 was certainly a flop, even at its $99 price tag. The company has since slashed the price to $49 to spur sales.
While the Lumia sales were not a complete mess, Nokia's feature phone and Symbian/MeeGo phone sales continue to fall, with overall sales down 4.8 million compared to the comparable period last year.
Nokia says it expects the third quarter to be "challenging," as well.