Nokia reports profitable quarter
After six quarters of losses, Nokia finally has a reason to rejoice
Nokia had a roller coaster of a year in 2012, but the Finnish smartphone maker can rest easy this morning, thanks to its glowing Q4 2012 financial results. Well, glowing for Nokia, anyway. The company's Q4 report, released Thursday, finally revealed a return to operating profit. This would be the first time that's happened for Nokia since Q1 2011.
As we mentioned earlier, the Lumia has proved pretty heroic for Nokia -- reaching 4.4 million sales over the quarter. No small feat, when you take into account the previous quarter's 2.9 million sales.
Lumia's spike in sales helped boost Nokia's overall revenue for the quarter; the company ended up raking in around $585 million in profit. Now, that might not seem groundbreaking at first glance, but that figure takes on a totally new tune when you look at last quarter's enormous loss (some $754 million).
Commenting on the results, Stephen Elop, Nokia CEO, said:
"We are very encouraged that our team's execution against our business strategy has started to translate into financial results. Most notably we are pleased that Nokia Group reached underlying operating profitability in the fourth quarter and for the full year 2012.
While the first half of 2012 was difficult for Nokia Group, in Q4 2012 we strengthened our financial position, improved our underlying operating margin in Devices & Services, introduced the HERE brand to expand our mapping and location experiences, and drove record profitability in Nokia Siemens Networks.
We remain focused on moving through our transition, which includes continuing to improve our product competitiveness, accelerate the way we operate and manage our costs effectively. All of these efforts are aimed at improving our financial performance and delivering more value to our shareholders."
You can check out the entire breakdown over at Nokia.