Nokia's vital signs improving

After several quarters of losses, the company returned to profitability. Net sales for the 4Q/2012 reached EUR 8'041 million (up 11% sequentially; down 20% YoY). Operating profit stood at EUR 439 million (compared to a loss of EUR 576 million in 3Q/2011 and a loss of EUR 954 million in 4Q/2011) Total smartphone volumes reached 15.9 million units, composed of: 9.3 million Asha full touch smartphones, 4.4 million Lumia smartphones, 2.2 million Symbian smartphones. Commenting on the results, Stephen Elop, Nokia CEO, said: "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."