News Column

Nokia Shares Lift on Q4 Results, Smartphones

Jan 10 2013

The share price of Finland-based mobile telephone maker Nokia rose 15 per cent Thursday, after it announced better-than-expected fourth-quarter results for its devices and services division.

Nokia said sales of its handsets were 2.5 billion euros (3.3 billion dollars). Of the 79.6 million handsets sold in the quarter, 15.9 million were smartphones.

The group said underlying profitability had also increased, and attributed this to better cost management and sales.

Chief executive Stephen Elop said it was "a solid quarter where we exceeded expectations."

In the corresponding quarter of 2011, the company sold 113.5 million handsets. Of these, 19.6 million were smartphones.

In 2011, Nokia joined forces with Microsoft in developing platforms for mobile telephones, dropping its own Symbian system in favour of the Windows Phone system.

The group said sales also improved for its joint venture Nokia Siemens Networks.

Source: Copyright 2013 dpa Deutsche Presse-Agentur GmbH

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