Linked by Thom Holwerda on Thu 19th Jul 2012 18:32 UTC
PDAs, Cellphones, Wireless Nokia just posted its quarterly results - including shipped devices - and it's not looking good. Massive losses, sales dropping, and no growth in Lumia sales in the US. The company is losing money hand-over-fist, and with Windows Phone 8 still months away, the company warns the next quarter will be just as bad.
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Disastrous but above expectations
by vaette on Thu 19th Jul 2012 18:52 UTC
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It was well known that this quarterly report would be terrible, and in fact it came in above expectations. A lot of the losses are related to restructuring (cutting various divisions). Nokia still needs things to work out smoothly with WP8, but this is not as bad as the straight numbers make it look. At the time of writing Nokia is up 6.36% on NYSE. Still a ridiculously low valuation, but it should illustrate that the Q2 report wasn't bad compared to the overall feel of the situation.

Edited 2012-07-19 19:03 UTC

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