Nokia reports $1 Billion loss despite selling 4 million Lumia smartphones

Nokia has sold 4 million Lumia smartphones in Q2 with 600,000 sold in North America but they still reported a 1 billion dollar loss as sales for the company fell 19 per cent against the year ago period. This comes after some Lumia handsets in the US were discounted as a result of Microsoft's recent announcement that the next version of Windows Phone will not be backwards compatible with Nokia's current line of Lumia smartphones.

At least in the US, the price of Nokia's flagship Windows Phone device, the Lumia 900, was cut in half from $100  to $49.99 on three year plans.

That handset represents the best hardware available for Microsoft's fledgeling mobile OS. The Lumia 900 brought 4G LTE connectivity, dual cameras as well as a larger screen to the Windows Phone line. It was also designed to be the ideal enterprise Windows smartphone with built in security features.