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#Business

Nokia Lumia smartphone Q3 sales crosses 8.8 million mark

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Nokia has succeeded in selling a record 8.8 million Lumia smartphones in 2013’s third quarter, it has revealed in its first earnings calls after the announcement of €5.44 billion takeover deal with Microsoft. The deal is expected to strike during early 2014.

The Finnish company reported a net loss of 91 million euros ($125 million) in the third quarter as compared to last year’s 969 million euros. The company’s revenue dropped 20 percent to 5.6 billion euros from €7.3 billion in last year’s same quarter.

The Lumia maker’s network operation reported a net profit increase of around 33 percent and was expected to have up to 12 percent positive operating margin in the previous quarter, claiming “solid net sales growth on a sequential basis.” In Helsinki, Nokia’s stock price closed in green around 7 percent higher at 5.34 euros.

The company sold 8.8 million Lumia smartphones as compared to 6.3 million smartphones last year marking a 40 percent increase year-on-year. During the same period last year out of the 6.3 million smartphones Lumia handsets accounted for less than 3 million. The company’s performance in the US market has been remarkable with handset sales of to 1.4 million which has tripled year on year.

Though Nokia is not doing very well in the smartphone segment, thanks to the company’s old line and non-smartphones sales, Nokia retained its no.2 position in mobile phone sales overall with a 15.5 percent global share.