Nokia Announces $585 Million Profit In Q4 Over $10.73 Billion Revenue

Nokia Announces $585 Million Profit In Q4 Over $10.73 Billion Revenue

January 24, 2013 | By Pradeep

Nokia today announced its financial quarter results for Q4. Nokia returned to profit with $585 Million profit on $10.73 Billion revenue. Nokia sold over 4.4 Million Lumia Windows Phone devices which is up from Q3 number of 2.9 million units. Overall Smartphone shipments reduced from 35.1 million units to 6.6 million units as the transition from Symbian to Windows Phone continues at Nokia. On the good side, Nokia Siemens network is back to profitable side contributing a significant part to Nokia’s profit.

Nokia CEO Stephen Elop on their results,

“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.”