Nokia Corp signalled Thursday that its smartphone joint venture with Microsoft is beginning to gather rewards as it publicized that fourth quarter handset sales surpassed expectations & that its handset trade will get back to profitability.
The Finnish company share price increased 11 percent to end at €3.32 on Helsinki Stock Exchange.
The manufacturer stated it retailed 86million thingies in the earlier three months of last year, counting a few 4.5million Lumia smart phones, whilst incomes increased to some €3.9billion. A year back, it suffered from a fourth quarter net loss of €1billion with a 19 percent decrease in revenue.
The cell phone maker stated it retailed 15.9million smartphones in the quarter, an increase from 6.3million in the previous quarter.
The Finnish mobile phone maker has been struggling for a very long time in the smartphone market. Even Samsung surpassed it as the market which Nokia led for 14 long years. In 2011, Nokia proclaimed that it will join forces with Microsoft to make a smart phone that would run on Windows operating system.
Also, the manufacturer warned that seasonality & competition could have an unhelpful influence on the smartphone division in first quarter profitability of 2013. Nokia is due to report fourth quarter incomes on 24 January.
The results are great for a company who was about to sink. We hope that their Lumia smartphones sale continues to impress us. Competition is good for the mobile phone market, and Nokia could emerge as a tough competitor, and benefit the market.