Nokia announced the Q2 financial results and numbers are red all over. Net sales and operating profits are down for Nokia as a whole and its core, Devices & Services. Actually, the only division reporting a positive IFRS operating profit is Nokia Siemens Networks.
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It's not all bad news - volumes of Lumia sales increased 32% quarter on quarter to 7.4 million units, up from 4 million for the same quarter last year. That's below analysts' expectations of 8.1 million, which has sent Nokia stock down almost 4% at the time of writing.
The Lumia 720 and Lumia 520 (the world's most popular Windows Phone handset (http://blog.gsmarena.com/nokia-lumia-520-claims-top-wp8-phone-spot-worldwide-nokia-dominance-almost-unchallenged/)) are two of the main drivers behind the growth. These are mid-range and entry level phones respectively, which lead to a decrease in average selling price by 4% to