Nokia reports huge €1 billion Q4 loss, says over 1 million Lumia phones sold

Nokia on Thursday reported earnings for the fourth quarter of 2011, revealing its third straight quarterly loss but beating analyst estimates. The company saw revenue slide 21% year-over-year to €10 billion, and profit dropped from €884 million in the fourth quarter 2010 to a €954 million operating loss last quarter. Smartphone revenue dipped 38% compared to the same quarter in 2010 to €2.75 billion, and mobile phone sales were off 23% to €3.04 billion. Nokia shipped 113.5 million feature phones, down 8%, and 19.6 million smartphones, down 31% from the same quarter a year earlier. The company said it has shipped “well over” 1 million Windows Phone-powered Lumia smartphones to date. “Overall, we are pleased with the performance of our mobile phones business, which benefited in Q4 from sequential double-digit percentage growth in our dual SIM business, with particular strength in India, Middle East and Africa and South East Asia,” Nokia CEO Stephen Elop said in a statement. “In October, we introduced the Asha 200, 201, 300 and 303, which brought new mobile phones into 76 markets around the world. We are building on this foundation with R&D investments as we continue our journey to connect the next billion to the Internet.”

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