Samsung, Apple knock-down Nokia Corporation (NYSE:NOK)

Posted by sara Frank August 13, 2013 0 Comment 943 views

Even up until a few years ago, Nokia Corporation (NYSE:NOK) reigned supreme in the mobile market. But that scene has changed color and Samsung and Apple have taken over top place in that order. NOK is looked-upon as more of a straggler now and it’s had to make a huge effort to even be in the race.

Lumia bright
It has launched its Lumia line of smartphones that have been sort of a bright spot for it. The Windows phone market is on the rise and the company is trying to leverage this fact and regain some of its lost glory. Despite all of this, Nokia has dipped from 8th position down to 10th place in the smartphone market.

The company’s global market share dipped to 14.8% in the 2013 Q2 in comparison to the 19.7% that it stood at in the 2012 Q2. Currently, Samsung is the lead with a whopping 23.6% share while Apple holds a 9% share.

Overall drop

Reports have it that there has been a 9.5% decline in the North American mobile market while Latin America has seen a 3.8% drop. In the 2013 Q1, NOK reported a 20% drop y-o-y on net sales of $7.6B. It has an operating loss of $197M which is an 89% dip from the $1.7B that it stood at, a year ago. Device sales continued to drop and touched $3.8B which is a 31% drop from the previous year. To a certain degree, the rise in Lumia sales has offset the dip in feature-phone sales.

In the Q1, Nokia shipped a total of 6.1M smartphones out of which 5.6M were Lumia handsets. This was an increase from the 4.4M that it stood at in the previous quarter. In the current quarter, the company is expecting an additional 27% rise in Lumia shipments. All-in-all, NOK has had a lack-luster 2013 so far and maybe what it needs is a stunning smartphone launch to pull it out of the lurch.

About sara Frank

Sara Frank is our chief congressional correspondent, Sara has covered the presidential campaign, Congress and congressional campaigns. Prior to that, she covered the U.S. House. Sarahas also worked covering the House, Senate and campaign finance. Among the numerous honors she has received for his reporting, Sara is the recipient of an Emmy Award from The National Academy of Television Arts and Sciences. She was also nominated four times for a national Cable Ace Award.

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