Nokia’s Struggles Continue With 73% 4Q11 Earnings Drop

Nokia on Thursday said its 4Q11 earnings fell 73 percent from the prior year as its push to sell its new Lumia Windows Phone failed to help it compete in a new marketplace. According to Reuters, the Lumia phone has sold more than one million units since it launched last November.

Analyst Nick Dillon of research firm Ovum was quoted as saying of the Lumia’s sales so far: “It is more than some were expecting, but it’s not going to worry Apple or Google.”

Analyst Michael Schroder of FIM Securities chimed in to say that Nokia’s earnings announcement shows “that the start of the Windows strategy is slow, and we have very little concrete data to predict its success at this point. There are a lot of uncertainties. These are critical times for the future of the whole company. The next months will be extremely important.”

Carolina Milanesi, an analyst with Gartner, added: “They need to market the hell out of [Lumia]. Android is still an easy sale. Nokia needs to convince the sales people in stores to sell Nokia.”