Nokia Reports $196 Million Loss In Q1 2013 Earnings

It seems that Nokia has returned to the land of unprofitability this past quarter, as the company as posted a loss of €150 million ($196 million), with a total revenue for the quarter reaching €5.85 billion ($7.65 billion), which is down from €7.35 billion ($9.6 billion) during the same time last year.

However, despite the losses, Nokia Lumia sales have hit a record high of 5.6 million in Q1 2013. This is up from 4.4 million during the previous quarter. In the same quarter last year, Nokia only sold two million Lumia smartphones, so that's less than double of what they're selling now. Since shipping their first Windows Phone device in November 2011, Nokia has just under 20 million Lumias.

While Nokia's financial state certainly wasn't ideal this quarter, it's definitely better than what it was last year during this time, where the company experienced an operating loss of €1.34 billion ($1.75 billion), so the company is certainly succeeding at digging themselves out of a deep hole, even with less revenue coming in this quarter.

However, Nokia isn't doing so well in North America. The company only shipped 400,000 devices during Q1 2013, which down 33% from the same time last year where they shipped 700,000 handsets. All in all, Nokia says that Lumia sales increased in all regions of the world in Q1 2013 except North America.