HMD Global posted 1.7 billion euro revenue and loss of 295 million euro in 2019

The maker of Nokia smartphones and feature phones HMD Global sent a press release to Finnish media with information regarding the company’s financial performance in 2019. The sent press release also included HMD’s lengthy comment about the performance, something we already received from HMD, but interestingly enough, without the financial data.

In 2019, the maker of Nokia phones posted 1.7 billion euro in revenue, which is a decline from 2.4 billion euro revenue in 2018. The loss of 188 million euro in 2018 widens to a loss of 295 million euro in 2019. It’s important to note, that HMD’s had a net profit in the fourth quarter of 2019, which could mean that the financial impart from changing their manufacturing strategy from single to multi ODMs and focusing on key markets might have started to give results.

While HMD didn’t give any numbers for shipments, per Counterpoint Research numbers of phones shipped in 2019, HMD Global shipped around 14.5 million Nokia smartphones and 53.2 million Nokia feature phones. In the first quarter of 2020, the company shipped just 1.7 million smartphones and 8.6 million feature phones, whit an unfortunately negative trend of smartphone shipment decline for the last four quarters.

The press release also states that the company’s executives won’t be available for any comment or interview.