Just an year into an alliance with Microsoft to regain market share lost to Apple, Nokia has sold more smartphones in the last quarter than projected, taking the shares 7% higher
The Lumia range of Windows Phone based handsets have had a tremendous response. Nokia sold 19.6 million smartphones. Though analysts had predicted sales of just 18.5 million smartphones. Apple sold 37 million iPhones in the period.
The company reported a net loss of 1.07 billion ($1.4 billion). Sales declined 21% to 10 billion as deliveries of lower-priced handsets shrank in the markets such as India where local players like Micromax have dominated the market in low cost handsets.
CEO Stephen Elop is betting heavily on Microsoft-based Windows Phones to compensate for the 10-year-old Symbian line it's retiring. Nokia's Lumia line went on sale in Europe in November, and is gradually expanding into larger markets such as India and China where the smartphone battle is just beginning. Nokia shares traded 4.9% higher in Helsinki.
Elop has also adopted strategy in the mid and low segment devices with its Asha range. These hadhelds are Dual SIM phones capable of performing normal operations and compete with low end Android devices.