Nokia Posts €590 Million Loss for Q1 2012, Despite Strong US Lumia Sales

Nokia’s Q1 2012 financial report was released today, with a €590 million loss the main highlight for the company. The slow transition from Symbian to Windows Phone is a main contributor, as well as the fact that Android has been eating into the bottom line of phone sales as a more affordable competitor. The only region to post positive results for volume numbers was North America, with a nearly 20% increase over last quarter.

Stephen Elop elaborated on the trouble of penetrating new markets in the report as well:

“We have launched four Lumia devices ahead of schedule to encouraging awards and popular acclaim. The actual sales results have been mixed. We exceeded expectations in markets including the United States, but establishing momentum in certain markets including the UK has been more challenging.”

While the manufacturer has exceeded sales expectations in the United States, no numbers were provided leaving us in the dark as to how well the Lumia 900 is actually doing. Over the next few months, Nokia will begin rolling out the Tango update for Asian markets on the Lumia 610, which should help the bottom line.

[via Nokia]

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