HMD Global posted €2.4 billion revenue with €189 million loss in 2018

HMD revealed its financial report for the past fiscal year that showed a net sales of 2.4 billion euros and a loss of 189 million euros. The sales increased since the last report, but so did the loss which was 65 million euros in the previous fiscal year. Juho Sarvikas explained that losses came from the significant investment in production, logistics, and R&D what we can see in new camera tech and materials used.
HMD managed to sell 80 million devices in the past year, which is around 10 million more than in 2017. HMD hopes that the latest announcements for the US market, which is mostly operator driven, could help the company grow, and eventually help the Nokia brand evolve. The weak sales in numerous markets and a market share drop in Europe shook the company what lead to the reorganisation of its business plan in the early 2019. This year will be interesting and people together with the investors expect a lot from new Nokia phones that we will be seeing at IFA2019.

The official financial report is still not published, so we’ll have more info once it is out.


Source HS