Seeking Alpha , Think Finance (1,133 clicks) Profile| Send
Message| ( followers)    As Nokia (NYSE:NOK) reported Q1 2013
earnings, it registered another massive miss in terms of
revenue. This happened because of a problem I had identified in
my update on Q4 2012 earnings: The Lumia segment is not growing
fast enough to compensate for the loss of revenue from the rest
of the device segment.  This is easy to see. The Lumia segment
increased sales by 27% quarter-on-quarter, from 4.4 million to
5.6 million devices. Yet the "Devices and Services" segment,
where Lumia is just a part, saw revenue decreasing by 25%
quarter-on-quarter. Even the sub-segment "Smart Devices", where
Lumia is the largest part by far, saw a 5% drop in revenue
quarter-on-quarter, meaning that the Lumia growth was not enough
to offset the drop in revenue from Symbian smartphones, whose
sales are now basically gone.  This massive problem is not going
away soon. Nokia still sold 61.9 million devices during the
quarter, out of which only 5.6 mil