While it’s no secret that Nokia are not the force they once were in the mobile market, it can be said that things were beginning to look up for them at last when a deal with Microsoft meant they’d be using the Windows Phone OS on their latest smartphones. The OS has been well received so far however it seems it has still failed to prevent losses for the Finnish company.
The news comes today after Nokia posted its third recording of heavy quarterly losses in a row.in the fourth quarter last year the company posted a €745 million profit; however the totals seemed to have completely reversed as the fourth quarter this time around shows losses of €1.07 billion, despite an encouraging start from its Windows Phone selection.
As reported by Cnet the company also recorded a 29% decrease in the amount of handsets sold compared to the previous year, where they managed to shift 123.7 million devices in the fourth quarter of 2010. Even the average cost of their handsets has fallen over the course of the year, a figure that you would normally expect to see rise regardless of the success a company was having, from €69 last year to €53 now.
Meanwhile things could still change for the better as their new Lumia range seems to be taking off. Nokia CEO, Stephen Elop claims the company has already sold over a million of them since they were introduced back in October last year. He also said the company plans to roll out the devices to other markets in the world including Latin America and China throughout this year, while also pointing out that while the market already has some strong competitors they still have a chance of success adding ‘with Lumia, we have demonstrated that we belong in the field.’
Do you think Nokia can turn their profits around with Windows Phone?