Nokia Oyj jumped the most in 4 1/2 years after sales of its flagship smartphone exceeded analysts’ estimates, signaling the former global handset leader is making progress with a plan to stem revenue and market-share declines. Sales of the Lumia phone increased to 4 million units in the second quarter from more than 2 million in the previous period, Nokia said today. The Espoo, Finland-based company, which lost its 14-year run as the phone-industry leader this year, still projected continuing losses at its handset business. Rising Lumia sales are a bright spot for a company struggling to return to profitability as it reported a fifth consecutive quarter of plunging revenue. Read the full story at Business Week.
Nokia Jumps Most Since 2001 as Lumia Sales Top Estimates
Author: Shelly Palmer
Shelly Palmer is Fox 5 New York's On-air Tech Expert (WNYW-TV) and the host of Fox Television's monthly show Shelly Palmer Digital Living. He also hosts United Stations Radio Network's, Shelly Palmer Digital Living Daily, a daily syndicated radio report that features insightful commentary and a unique insiders take on the biggest stories in technology, media, and entertainment. He is Managing Director of Advanced Media Ventures Group, LLC an industry-leading advisory and business development firm and a member of the Executive Committee of the National Academy of Television Arts & Sciences (the organization that bestows the coveted Emmy® Awards).