[Updated] Nokia publishes Q4 2011 results , Sells over 1 million Lumia smartphones

Nokia just published their Q4 2011 results with predictably dropping sales. What is interesting to note is that the Finnish cellphone manufacturer managed to sell over 1  million Lumia devices. Sales are 31% lower than the same quarter last year essentially selling 19.6 million units. These numbers however are 17% up since Q3 2011.

Nokia achieved over 10 billion Euros in sales, 21% lower than the same quarter a year ago but lost almost 1billion Euros in the last quarter. Something worth quoting by Stephen Elop , CEO of Nokia :

“And, while we progressed in the right direction in 2011, we still have a tremendous amount to accomplish in 2012, and thus, it is my assessment that we are in the heart of our transition.
Specifically, changing market conditions are putting increased pressure on Symbian. In certain markets, there has been an acceleration of the anticipated trend towards lower-priced smartphones with specifications that are different from Symbian’s traditional strengths. As a result of the changing market conditions, combined with our increased focus on Lumia, we now believe that we will sell fewer Symbian devices than we previously anticipated.”

[Update] As part of the ongoing conference call , we’re hearing that Symbian sales are declining faster than expected which could result in lesser devices sold than expected. Worth noting is that Microsoft will be paying Nokia a platform support fee on a quarterly basis. You can read more about there here. As we hear more , we’ll keep updating this blog post.

Author: Dhruv Bhutani

Your friendly neighborhood techie. Currently using a Pixel 2 XL. Catch him on Twitter (@DhruvBhutani) / Facebook .