Nokia Q4 2012 Results
The Finnish mobile maker Nokia today announced its financial results for the fourth quarter 2012, reporting 439 million euros (about $584 million) with net sales of 8.041 billion euros. The company reported gross cash of 8.8 billion euros ($11.52 billion), net cash of 3.6 billion euros ($4.72 billion), which is down from of 9.4 billion euros ($11.6 billion) and net cash of 4.2 billion euros ($5.2 billion) in the third quarter respectively in the quarter.
The company sold 4.4 million Lumia devices in the quarter, up from 2.9 million in the previous quarter with overall the company sold 6.6 million smartphones, down from 19.6 million (66 percent) last year. The company’s Asha smartphone series also performed pretty well significantly better than its Lumia range with sales of million units.
Here is what Nokia’s CEO Stephen Elop says:
“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.
While the first half of 2012 was difficult for Nokia Group, in Q4 2012 we strengthened our financial position, improved our underlying operating margin in Devices & Services, introduced the HERE brand to expand our mapping and location experiences, and drove record profitability in Nokia Siemens Networks.
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.”
