Nokia’s Q2 results are out and one of the key highlight is Lumias sales growth which has reached to 7.4 million as compared to 5.5 million last quarter. Overall device shipments is 61.1 million due to decrease in featurephones volume, which started recovering from late part of the quarter. NSN remains profitable and Here sees growth by 8%. Read more highlights below,
Second quarter 2013 highlights:
- Nokia Group achieved underlying operating profitability for the fourth consecutive quarter, with a Q2 non-IFRS operating margin of 5.3%, driven by strong performance of Nokia Siemens Networks.
- Nokia Group ended Q2 with a strong balance sheet and solid cash position, with gross cash of EUR 9.5 billion and net cash of EUR 4.1 billion. Nokia Siemens Networks’ contribution to Nokia Group gross and net cash was EUR 2.5 billion and EUR 1.4 billion respectively.
- Devices & Services achieved Q2 non-IFRS operating margin of negative 1.2%, which was consistent with the earlier expectation for approximately negative 2%, plus or minus four percentage points.
- HERE achieved Q2 non-IFRS operating margin of 3.4%. This exceeded the earlier expectation for a negative non-IFRS operating margin
- Lumia Q2 volumes increased 32% quarter-on-quarter to 7.4 million units, reflecting strong demand from customers for a broadened Lumia product range.
- Mobile Phones Q2 volumes decreased 4% quarter-on-quarter to 53.7 million units, but demonstrated some signs of recovery in the latter part of the quarter.
- HERE Q2 net sales increased 8% quarter-on-quarter to EUR 0.2 billion.
- Nokia Siemens Networks achieved underlying profitability for the fifth consecutive quarter, with a Q2 non-IFRS operating margin of 11.8%, reflecting record non-IFRS gross margin and continued progress relative to its strategy. This exceeded the earlier expectation for Nokia Siemens Networks non-IFRS operating margin to be approximately 5%, plus or minus four percentage points.