Nokia Q4 performance exceeds expectations

old nokia littleFinnish electronics giant Nokia has announced that it saw a better than expected fourth quarter results, largely thanks to stronger sales of its Lumia model smartphone.

Figures released by the Espoo-based firm on Thursday (10 January) revealed that more than 86 million devices were sold over the period, with the Windows Mobile-based Lumia returning to profitability as a strong performer with 4.4 million units sold.

Likewise, Nokia Siemens Networks saw exceptionally good sales, driving the third straight quarter of underlying profitability.

Nokia shares climbed 3.4 percent to EUR 31.88 on the back of Thursday’s news, pushing the stock to the upper levels of the FTSE Eurofirst 300 leader board.

The news comes as Nokia continues to face heavy pressure in the lucrative handset market from the likes of Korea’s Samsung and US-based iPhone maker Apple; Nokia has lost a substantial portion of its market share in recent years to both companies.

Nokia officials said that smartphone sales totalled to 6.6 million units in the fourth quarter. Despite the gain, however, the Finnish company cautioned a slowdown in the coming months as a result of heavy competition and seasonal changes. The firm forecast a first quarter operating margin of negative two per cent on Thursday, plus or minus four points.

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