Home Technology Nokia Corporation (ADR) (NOK) To Release Q2 Interim Report On July 18

Nokia Corporation (ADR) (NOK) To Release Q2 Interim Report On July 18

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Nokia Corporation (ADR) (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) will report its second quarter 2013 interim report on Thursday, July 18 at around 1pm Finnish Time, says a press release from the company. The Finnish company will publish a summary of interim reports in the stock exchange releases. Nokia’s analyst conference call will begin at 3pm Finnish time.

Nokia Corporation (ADR) (NOK) To Release Q2 Interim Report On July 18

Nokia’s First Quarter Performance

In the previous quarter, Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) reported a loss of €150 million ($196 million). The total revenue came in at €5.85 billion ($7.65 billion), a decline from €7.35 billion ($9.6 billion) in the corresponding quarter of the previous year.

Lumia flagship of the company was a performer in the first quarter, with record high sales of 5.6 million versus 4.4 million in the previous quarter. For the corresponding quarter of 2012, total sales of Lumia came in at 2 million. The first Windows based Nokia Lumia was shipped in November 2011 and since then number has reached around 20 million devices.

In the first quarter, the financial performance of Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) was much better than the previous year when the company posted a loss of €1.34 billion ($1.75 billion).

In North America, performance was not remarkable as the company shipped only 400,000 smartphones in the first quarter of 2013, a decline from the 700,000 handsets in the previous year’s corresponding quarter. In other parts of the world, Nokia Lumia gained demands.

Nokia lagged behind in the Smartphone competition from mighty rivals like Apple Inc and Samsung Electronics. The company then opted for the Microsoft’s Windows OS for the first time in its Lumia series in 2011.

Nokia acquired cash rich Nokia Siemens Network

Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) acquired the partner’s stake in Nokia Siemens network for $2.2 billion, which is the only profitable venture of the Finnish phone maker at present. As per analysts, the deal is strategically right though there will be some initial pressure on the balance sheet of the company.

NSN posted adjusted EBITDA of 196 million euros in the first quarter of 2013. Chief executive of Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) said that Nokia Siemens network is a dominating player in LTE, which is an alluring growth area.

Nokia Siemens Network will operate as an independent company. According to Elop, there are many options for the NSN business and every option is under consideration, including listing or selling.

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Aman Jain
Personal Finance Writer

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