Nokia Lumia
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.
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