“Nokia Oyj’s attempt to spearhead its comeback via the U.S. is falling short as its Lumia smartphones are failing to stop consumers from snapping up Apple Inc. iPhones and handsets running Google Inc.’s Android software,” Adam Ewing reports for Bloomberg.
“Nokia shares fell for a second day after the Espoo, Finland-based company said yesterday it sold about 700,000 handsets in North America in the holiday quarter, a fraction of the tens of millions of iPhones and Android handsets sold in the period,” Ewing reports. “Chief Executive Officer Stephen Elop has identified the U.S. as a key market in Nokia’s global turnaround, and last year lined up AT&T Inc., the second-largest U.S. carrier, to sell its flagship Lumia 920.”
Ewing reports, “So far Nokia has failed to communicate why people should switch from Apple and Android handsets, said Louis Landeman, a credit analyst at Danske Bank A/S in Stockholm. ‘Customers just don’t have a natural attraction to the name,’ Landeman said in an interview. ‘The 700,000 unit sales in North America needs to improve if Nokia is ever going to have a chance to boost its market share.'”
“Nokia also reported a seventh straight drop in quarterly sales and omitted a dividend for the first time in at least 143 years to retain cash for its comeback attempt,” Ewing reports. “Lumia unit sales globally rose to 4.4 million in the fourth quarter. Apple said this week it sold 47.8 million iPhones during the period… Smartphones running Windows Phone, including the Lumia, probably accounted for 3.6 percent of purchases at AT&T during the year-end holiday quarter, according to researcher Kantar. The iPhone accounted for 75 percent, or 20 times more.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]
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