Lumia 620

Nokia has today published its Q1 2013 financial report, which details some interesting numbers showing just how far the company has come since first hopping on to the Windows Phone train. While Nokia has reported an operating loss in the first quarter of 2013 (€150 million), €6.5 billion ($7.65 billion) in revenue was also highlighted. It's not looking all bad for the Finnish handset maker.

If you're not up on your finance knowledge with Nokia, the company states that 5.6 million Lumia devices were sold, a sizeable increase when compared against the 4.4 million sold the previous quarter. This Q1 report sports the highest number of Lumia Windows Phones sold since Nokia chose to join Microsoft's mobile platform. We should point out that the expense reducing measures that are currently in place at Nokia appear to be working as today's report is a strong contrast to what was covered this time last year.

The report does show that North America actually fell in numbers with just 400,000 of the 61.9 million Nokia mobile devices sold, a noticeable drop from the 700,000 sold last quarter. Nokia still has an issue with penetration in the US, and is somehow caught in a vicious cycle with Microsoft. The upcoming Lumia 928 on Verizon is believed to help the company further establish itself across the top mobile operators, but with Samsung and Apple pushing through easily without exclusive deals, etc. we can't see the situation improving anytime soon.

So how can we sum up the report for Q1 2013? It's looking promising. Nokia still has some way to go, as does the Windows Phone platform and we'll put our money on the company focusing on the US to really establish itself. To wrap up, here's what Nokia CEO Stephen Elop added to the report:

"At the highest level, we are pleased that Nokia Group achieved underlying operating profitability for the third quarter in a row. While operating in a highly competitive environment, Nokia is executing our strategy with urgency and managing our costs very well. We have areas where we are making progress, and areas where we are further increasing the focus. For example, people are responding positively to the Lumia portfolio, and our volumes are increasing quarter over quarter."

Be sure to read the full report for more information.

Source: Nokia