HMD global operated with a €7.7 million loss in 2016

Finnish financial newspaper reports that HMD submitted its annual financial report for 2016. The report shows net sales of €13.5 million and a €8.4 million operating loss. After taxes, the loss shrinks to €7.7 million.

The report also shows that HMD spent €2.1 million for personnel, and that HMD financed its operation with short-term loans. HMD revenue in 2016 came exclusively from selling Nokia-branded feature phones in December. That is not bad considering that in the terms of the whole year the feature phone revenue could be over €100 million, and in 2017, with the 3310, probably even more. The question is will HMD succeed to sell feature phones without losing money on them.

Thanks Viccky for the tip. 🙂



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