Nokia Announces Q4 Profit, Sold 15.9 Million Smartphones

Finnish handset manufacturer Nokia has announced that it made a profit of $269 million during 2012's fourth quarter.

The figure represents a significant increase compared to the $1 billion it lost during the same period in 2011. However, revenue dropped to $10.6 billion and smartphone sales decreased by 55 percent.

To save money during 2013, Nokia confirmed that it would not be paying a dividend to shareholders. Nokia entered 2012 with $7.4 billion in cash but ended the year with a $2.9 billion loss.

The company sold 15.9 million smartphones in the quarter, representing a decrease from 19.6 million a year earlier. Nokia sold 86.3 million handsets in total during the fourth quarter, as well as 4.4 million Lumia smartphone units.

"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," said Nokia chief executive Stephen Elop.

"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."

During the December of 2012, Nokia sold its Finland headquarters for $222 million in order to reduce costs.

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  • ipwn3r456
    Nokia could of earn even more money if they adapted Android...
    2
  • tomfreak
    Other than the lack of App in windows phone 8, I personally thinking the Wp8 are great by itself.
    1
  • Marcus52
    Not so sure Android would have been a good move - going up against Samsung and everyone else in that market don't seem to be all that good a strategy over the long haul, to me. It of course depends on Microsoft keeping their solid commitment to the industry - but I think they've shown that the company (Microsoft) is finally serious about being a player in the smart phone business.

    Good to hear about someone doing better, whatever the case.
    4