Nokia Sold 12 Million Smartphones in Q1, Including 2 Million Lumia Phones

From PC World: Nokia currently estimates the company will sell only 12 million smartphones during the first three months of 2012, as "multiple factors negatively" impact sales, the company said on Wednesday.

Nokia will sell a total of 71 million mobile phones during the first quarter, according to its expectations. That compares to 108.5 million during the same period last year.

The disappointing results illustrate that Nokia continues its transition toward depending on sales of smartphones based on Windows Phone, of which it sold more than 2 million during the first quarter, it said.

To change its fortunes, Nokia will increase investments in Windows Phone in order to bring more products to more consumers in more markets and it will lower the prices on some of its mobile phones, it said.

The company will also accelerate planned cost reductions and will "pursue additional significant structural actions if and when necessary."

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