Nokia has finally turned a profit.
(Credit:
Nokia)
Nokia might be down, but it's certainly not out.
The company today reported its fourth-quarter earnings, and offered up performance that might make its doomsayers think twice. During the fourth quarter, Nokia was able to generate a profit of 202 million euros ($269 million), a massive gain over the 1 billion euros the company lost during the same period in 2011. Nokia's profit was generated amid slumping revenue that fell from 10 billion euros in the fourth quarter of 2011 to 8 billion last quarter.
On a full-year basis, Nokia could only muster 30.2 billion euros in sales, down 22 percent compared to the 38.7 billion euros it generated in 2011. Its 2012 operating profit was down to a 2.3 billion euro loss, compared to a 1.1 billion euro loss in all of 2011.
Nokia's Devices & Services operation also took some hits, with fourth-quarter revenue dropping from 6 billion in 2011 to 3.9 billion last quarter. That division's sales on an annual basis were down 34 percent.
Nokia's Devices division was boosted by a strong showing for Lumia sales in the fourth quarter, which hit 4.4 million units worldwide. However, the company's Smart Devices division could only muster 6.6 million unit sales, helping the company realize a 66 percent year-over-year decline.
More to come...
Nokia boosts hope in future as losses turn to profit
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Nokia boosts hope in future as losses turn to profit
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Nokia boosts hope in future as losses turn to profit
