Nokia Posts $1.4 Billion Loss, Leads Smartphone War Cry with Lumia Line

Paul Lilly

If Nokia's upcoming Lumia 900 device proves all that a bag of chocolate covered popcorn, perhaps it will give the Finnish phone maker some much needed momentum going into 2012. Nokia needs the Lumia 900 and subsequent smartphones to be successful. Sales were down 21 percent year-over-year in the fourth quarter at Nokia, and its operating profit tipped into the negative side to the tune of 1.07 billion euros, or $1.4 billion.

Nokia reports its handset sales fell 29 percent in the fourth quarter year-over-year, though it's at least a little encouraging that they were also up 11 percent on quarter, a positive sign as Nokia began its transition to Microsoft's Windows Phone platform.

"In the war of ecosystems, clearly there are some strong contenders already on the field. And with Lumia, we have demonstrated that we belong on the field," Nokia said . "Our specific intent has been to establish a beachhead in this war of ecosystems, and country by country that is what we are now accomplishing. To date we have sold well over 1 million Lumia devices. From this beachhead of more than 1 million Lumia devices, you will see us push forward with the sales, marketing and successive product introductions necessary to be successful. We also plan to bring the Lumia series to additional markets including China and Latin America in the first half of 2012."

Nokia is getting ready to release its hotly anticipated Nokia 900 device, a high-end Windows Phone 7.5 smartphone rumored to land at AT&T on March 18 and aggressively priced at just $100 with a two-year service agreement.

Original Image Credit: Flickr (Ninithedreamer)

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