Lumia sales plummet as Microsoft fires more staffers
Microsoft had a pretty good earnings report last month as it closed out fiscal year 2016 (its fiscal year ends June 30 of each year). Now people are digging through the financial reports to see what the company didn't disclose in its press release or earnings call, and one unfortunate number has emerged: the pitiful sales of Lumia phones.
It's the latest in the sad story behind former CEO Steve Ballmer's final debacle, the purchase of Nokia's handset business. Nokia was the strongest supporter of Windows Phone, but beyond Ballmer and some Finnish shareholders, no one thought this $7.2 billion acquisition was a good idea. In the end, it cost more than $10 billion in write-downs, which means paper losses, not actual money out the door, but many employees from Nokia have been cut loose as well.
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