HMD Global’s net sales fell about 30 percent last year

04. 06. 2021 Friday / By: Robert Denes / Business / Exact time: BST / Print this page

F innish phone maker HMD Global announced its 2020 results yesterday. HMD Global’s net sales fell 30% to € 1.2 billion in 2020 from € 1.7 billion in 2019. At the beginning of 2018, net sales peaked at € 2.4 billion, which has unfortunately halved since then.

However, HMD Global managed to significantly reduce last year’s operating loss: the full-year operating loss in 2020 was € 47 million, compared to € 295 million in 2019 and € 188 million in 2018. Over the past year, HMD Global has become profitable as the year progresses. “We’ve been profitable since June last year,” CEO Florian Seiche commented.

Seichen says the general shortage of parts is currently hampering the delivery of Nokia phones - the problem is not currently sought after, but on the operational side. HMD Global turnover for the last four years. 2017 was the company’s first full year of operation, in the first half of which the company made its first smartphones available. HMD Global turnover for the last four years. 2017 was the company’s first full year of operation, in the first half of which the company made its first smartphones available. Despite declining sales, HMD Global was able to recoup last year’s losses in a very significant way.

The first half of 2020 was very difficult for HMD Global in the turmoil of the coronary epidemic. At the beginning of January-March, smartphone shipments were 1.7 million, and in April-June it fell to a record low of just 1.4 million smartphones, of which July-September was already mild at 2.1 million. Shipments of about 2.8 million smartphones were by far the busiest quarter at the end of October and end of December, up 35% from the previous quarter.

In August, HMD Global announced that it had raised $ 230 million, or just under € 200 million, in new funding. The funding round involved HMD Global’s key strategic partners, including Google, Qualcomm, and Nokia Technologies, which was not previously owned by HMD Global. During 2020, HMD Global’s management team also underwent a major overhaul, and the company sought to establish a new business in addition to selling phones. Last year, HMD Global launched the international data roaming service HMD Connect, increased its security experience in the mobile industry with the acquisition of Valona Labs, and opened a new research and development unit focused on software, security and services in Tampere.


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