Nokia's Stock Falls After Selling 7.4 Million Lumia Smartphones, Worse Than Expected

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HELSINKI (Reuters) – Nokia sold fewer handset than expected in the second quarter, showing it is still far from regaining market share it has lost to rivals Samsung and Apple.

Nokia said it shipped 7.4 million Lumia smartphones in the quarter, up 32 per cent from the first quarter but fewer than the 8.1 million units analysts had anticipated in a Reuters poll.

Sales of regular mobile phones were also weaker than expected at 53.7 million units compared to the market’s expectation for 56.2 million.

Its cash reserves were roughly in line with market expectations at 4.1 billion euros.

(Reporting by Ritsuko Ando; editing by Philippa Fletcher)

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