Struggling year for Nokia turns much awaited profits in the last quarter. Nokia experienced a huge 974 million euro ($1,3 billion) loss in 2011 and many investors turned away. Many also missed out as Nokia showed first profit of 375 million euros ($500 million) in last three months of 2012.
Nokia ended the year with 4.4 billion euros ($5.9 billion) profit (before taxes), but decided not to pay out dividends at this time to preserve cash to enhance “strategic flexibility” in time to come.
In the last quarter Nokia sold 86.3 million devices in total. 70 percent of Nokia’s revenue however, came from 15.9 million smartphones sold last year. 4.4 million of these smartphones featured the new Windows Phone 8 operating system having dumped the dying Symbian last used in Nokia 808 Pureview.
Nokia’s CEO Stephen Elop said, “We are very encouraged that our team’s execution against our business strategy has started to translate into financial results,” That business strategy Elop mentioned involved cutting of about 20,000 jobs.
Apple sales 2012 were also reported. 47.8 million iPhones strongly contributed to total of about $54.5 billion in revenue and $13.1 billion in profit.
Samsung revenue and profit 2012 wasn’t shabby either. Samsung Galaxy line of android smartphones contributed vastly to Samsung’s $52.04 billion in total sales and $26.92 billion in profit last year.
- Samsung’s revenue and net profit for 2012
- Nokia to make tough calls to restore competetiveness
- Samsung Q3 2012 operating profits of $7.28 billion
- Samsung’s Q4 profit rose by 87 percent
- Nokia seeking to block Blackberry 10
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