Nokia has finally got themselves back into profit! Q4 2012 turned out to be quite a success with the company posting a €439 million ($585 million) profits as they saw revenue work out at €8.04 billion ($10.73 billion).
This turn around isn't so much to do with the handset business, rather it is attributed to the growth of Nokia's Siemens Network which had a good quarter! But, devices and services did also manage to see a small profit too!
This means that Nokia finally had a good holiday quarter! It was actually the best one that the company has managed since they chose to hope onto the Windows Phone bandwagon. That's not to say that the Lumia range is super hot stuff at the moment, indeed the guys from Espoo shipped out 4.4 million Lumias and only 700,000 landed in the hands of consumers in North America, so they still haven't managed to crack the vital US market. The highlight of the roll call was the Lumia 920 which managed to bump up the average selling price of Nokia smartphones to €186 from €140, which undoubtedly helped bump up profits.
Despite the profit for the first time in a while Nokia decided to suspend the dividend on their shares for this year! This was the first time the company has done this in at least 143 years! Nokia managed to push through both World Wars and still didn't have to do this! But, strangely it's not actually considered a negative thing by the markets! Eric Beaudet from Natixis Security in Paris said that this “is a very important step because it shows management is conscious of the work that is ahead... It’s clearly a strong signal to the market that says 'Don’t worry about our balance sheet, we’ll do what it takes.'”
What do you think 2013 holds for Nokia? Let us know in the comments below! The full PDF of the results is available at the source link below!
Via Nokia and Bloomberg.
