Nokia has trimmed its operating loss to about €150m during the first quarter of 2013 (1Q13) compared to a loss of €1.3bn during the corresponding quarter in 2012, with cost-cutting measures and strong Lumia sales.
The Finish firm’s net sales dropped 20% during the quarter to €5.852bn, while its Devices and Services division reported operating loss of €42m with margin in Devices and Services dropping 1.5%.
During the quarter, overall smartphone device sales reached 6.1 million, including 5.6 million Lumia, 0.5 million Symbian.
The company’s Lumia sale volumes increased 27% quarter-on-quarter to 5.6 million units, though mobile phone volume decreased 30%quarter-on-quarter to 55.8 million units.
Nokia CEO Stephen Elop said at the highest level, the company achieved underlying operating profitability for the third quarter in a row.
"While operating in a highly competitive environment, Nokia is executing our strategy with urgency and managing our costs very well," Elop said.
"We have areas where we are making progress, and areas where we are further increasing the focus.
Nokia Siemens Networks was mainly responsible for improving the Nokia Group’s cash position by delivering strong quarter results.
"On the other hand, our Mobile Phones business faces a difficult competitive environment, and we are taking tactical actions and bringing new innovation to market to address our challenges," Elop added.
"All of these efforts are aimed at improving our financial performance and delivering more value to our shareholders."
