Microsoft’s acquisition of Nokia’s devices and services business was finalized last Friday but Nokia had one last gift for the new owner of its handset business: plummeting phone sales. Nokia on Tuesday reported its results for the first quarter of 2014, which included a $421 million profit on revenue totaling $3.7 billion, down 15% on year. Net sales in Nokia’s former devices and services business came in at just under $2.7 billion, which represents a massive 30% decline compared to the same quarter in 2013. Nokia’s handset business posted a $424 million operating loss in the quarter, so Microsoft clearly has a steep hill to climb — and we’re not sure if a selfie phone alone will do the trick, even if it’s code-named “Superman.”
Welcome to the handset business, Microsoft: Nokia’s phone revenue plummets in Q1
Published Apr 29th, 2014 6:45PM EDT
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Zach Epstein has been the Executive Editor at BGR for more than 15 years. He manages BGR’s editorial team and ensures that best practices are adhered to. He also oversees the Ecommerce team and directs the daily flow of all content. Zach first joined BGR in 2007 as a Staff Writer covering business, technology, and entertainment.
His work has been quoted by countless top news organizations, and he was recently named one of the world's top 10 “power mobile influencers” by Forbes. Prior to BGR, Zach worked as an executive in marketing and business development with two private telcos.
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