The latest report claims that Nokia Mobile’s shipments and total revenue for the full year of 2020 are not satisfactory. However, the company claims to have achieved profitability since June 2020 and is the lowest operating loss since its establishment in 2018.
The CEO of Nokia Mobile (also known as HMD Global) revealed in an interview that the company sold 55 million feature phones and smartphones in 2020. He also claimed that they have been making profits since June 2020. Nokia Mobile’s revenue fell to 1.2 billion euros in 2020, compared to 1.7 billion euros in 2019.
However, Nokia Mobile can significantly reduce its operating losses in 2020. The operating loss for the full year of 2020 was 47 million euros, compared with 295 million euros in 2019 and 188 million euros in 2018. Data from the analysis company Counterpoint Research shows that during the raging coronavirus pandemic, the first half of 2020 will be very difficult for HMD Global. In the first quarter of 2020, it sold only 1.7 million smartphones, dropped to 1.4 million in the second quarter, restored to 2.1 million in the third quarter, and sold 2.8 million smartphones in the fourth quarter of 2020.
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