Nokia Begins To See Progress

It looks like Nokia’s hard work is beginning to pay off. Nokia has released its full year 2012 and Q4 financial report today. In its report, Nokia said that it was able to sell 4.4 million Lumia smartphones, 9.3 million Asha full touch smartphones, and 2.2 million Symbian smartphones. The sales also caused an uptick, reaching $10.73 billion in overall profit for the previous quarter. But when balanced with Nokia’s restructuring costs and other expenses, the remaining profit was reduced to $585 million.

A major contributing factor to Nokia’s success is its Nokia Siemens Networks infrastructure business, which added an operating profit of $334 million, while Nokia’s Device business contributed $367 million. “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,” says Nokia CEO Stephen Elop. “All of these efforts are aimed at improving our financial performance and delivering more value to our shareholders.”

Gene Ryan Briones
Categories: Uncategorized
Tags: business, Nokia