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Nokia Q4 shows it ain't dead yet

It's getting its mojo back

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Nokia had a pretty decent fourth quarter and is showing the first signs that savage cost-cutting and redundancies might just be working.

Sales were down four per cent to €12bn and operating profit jumped 132 per cent to €1.1bn.

The Finnish firm sold 126.9m mobile devices, up 12 per cent on last year which gave it a 39 per cent share of the global market.

Sales by division were €8.2bn for devices and services, €3.6bn from Nokia Siemens Networks and €225m from NAVTEQ.

The company has been hammered over the last year by Apple, RIM and Samsung - firms that were either minor players or non-existent in Nokia's heyday.

Olli-Pekka Kallasavuo, Nokia's CEO, said: "We grew our market share in smartphones in the fourth quarter, driven by the successful launch of new touch and QWERTY models.

"Our performance in smartphones, combined with continuing success in the emerging markets, helped us increase sales."

He said he was also pleased with Nokia Siemens Networks' performance given the state of the infrastructure market.

The full statement is here. ®

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