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Nokia Sells 8.8M Lumia Phones as Net Sales Hold Steady

Tue, 10/29/2013 - 10:05am
Ben Munson

Nokia sold 8.8 million Lumia devices during its fiscal third quarter, breaking by 19 percent the record of 7.4 million set in the previous quarter. The Finnish phone gave a lot of the credit for the boost in sales to the low-cost Lumia 520.

Overall mobile phone sales saw a four percent increase as well, rising to 55.8 million units shipped globally during the quarter on the strength of demand for the Nokia 105, the Asha 501, and the Nokia 210.  

Nokia posted third quarter net sales of $7.85 billion, largely holding steady, down one percent from the previous quarter. While net sales for mobile devices and services dropped 19 percent annually to right around $4 billion, net sales of Nokia smartphones jumped 28 percent from a year ago. Overall, Nokia’s devices and services saw a six percent net sales jump over the previous quarter.

The promising numbers come during a quarter that saw Nokia agree to sell its devices and services division to Microsoft for $7.2 billion. That deal will see Microsoft spend $5.13 billion to purchase substantially all of Nokia's handset division, and $2.17 billion to license Nokia’s patents.

During the third quarter, Nokia also took full ownership of its Nokia Siemens network operations in a deal valued at $2.2 billion.

Risto Siilasmaa, Nokia Chairman and interim, said in the report, “Subject to the planned completion of the Microsoft transaction, Nokia will have three established businesses: NSN, HERE and Advanced Technologies.” 

Following the quarterly report, Nokia shares were up nearly nine percent as of 9 a.m. CT.

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