Q1 revenue drop for Nokia despite success with Lumia

Nokia had a record breaking performance from Lumia handsets in Q1 but still had a 25% net drop in sales.

The net sales figures for Nokia were down to $3.7 billion in Q1, a y-on-y dip of 32% on net sales as well as smartphone sales. The overall smartphone sales dropped 5% from the previous quarter to $1.57 billion. Feature phone sales were at $2.1 billion, a 36% drop y-on-y and 31% drop from the last quarter.

Lumia sales were on a record high though with the Finnish mobile phone manufacturer shipping 5.6 million units, a rise of 4.4 million from the previous quarter.

Nokia lost almost $336 million in Q1 of 2013, which is actually a marked improvement from the $1.92 billion in Q1 of 2012.

The signs are again looking good for Nokia as it tries to revive its lost business and new innovations are on the way to compete in the difficult environment.

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