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Nokia smartphones have been profitable for a whole year

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Nokia Mobile claims the company has been profitable since June 2020 thanks to its lowest operating loss since 2018. Florian Seiche, CEO of HMD Global, said the company had sold 55 million mobile phones in 2020 and confirmed that the company’s smartphones have been profitable since June 2020.

The brand’s revenue fell to € 1.2 billion in 2020 from € 1.7 billion in 2019. The brand continued to be profitable thanks to a significant reduction in operating losses. Nokia’s operating losses in 2020 were 47 million euros, much less than 295 million in 2019 and 188 million in 2018.

In terms of smartphone shipments, Counterpoint Research data shows that HMD Global sold just 1.7 million phones in the first quarter of 2020, down to 1.4 million units in the second quarter of 2020. But shipments rose to 2.1 million in the third quarter of 2020 and 2.8 million in the fourth quarter.

The profitability of the Nokia smartphone brand, according to HMD Global, may be driven by strong margins on its 4G-enabled phones in emerging markets such as India.

Florian Seyche added that the current global chip shortage is affecting the supply of Nokia smartphones.

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