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Nokia makes a 2012 Q4 profit of $585 million, sells 4.4 million Lumia handsets
From somewhere atop a Finnish mountain, Stephen Elop is both bellowing and whispering Nokia's fourth quarter and full-year financials. The world's former number one has finally made a quarterly profit, with the final three months of the year raking in $585.7 million. However, the baggage for those previous losses weighed low on the annual report, pinning the company to a $3 billion loss for its overall performance in 2012.A big chunk of that profit came from the company's Nokia Siemens Networks infrastructure business, which chipped in with an operating profit of $334 million, while its Device business added a further $367 million. As expected, it shipped 4.4 million Lumia handsets and 2.2 million Symbian smartphones. Those numbers are still sliding, but as phones like the 920 command higher prices, Nokia is seeing positives added to its bottom line. America, however, still hasn't fallen in love with the company's phones, with sales increasing from 300,000 to 700,000 -- but hardly enough to say it's been a big hit.
On the upside, Nokia begins 2013 with a reasonably clean slate. It's cashed out another $250 million donation from Microsoft and has seen its net cash reserves increase for the first time in over a year -- with reserves up to $5.8 billion from $4.6 billion in the Autumn. The company has also decided not to grant a dividend to its shareholders for the first time in over a century as it hopes to keep adding to its corporate nest-egg.
Source: Nokia (PDF)
Original Link: http://www.engadget.com/2013/01/24/nokia-q4-2012/
Engadget
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