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Electronics Production |
Nokia earnings better than expected
Despite core earnings taking a hit - fell 73% - Nokia's results are better thatn most analysts had anticipated.
Operating profit for the quarter was down 56 percent from EUR 1 billion to EUR 478 million (YoY). Full year operating profit was down 43 percent at EUR 1.8 billion (from EUR 3.2 billion the year before).
Overall, we are pleased with the performance of our mobile phones business, which benefited in Q4 from sequential double-digit percentage growth in our dual SIM business, with particular strength in India, Middle East and Africa and South East Asia.Stephen Elop, Nokia's CEONet sales for Q4 amounted to EUR 10 billion , down 21 percent from EUR 12.6 billion for the same period last year. Net sales for the year were EUR 38.65 billion, a nine percent decrease from EUR 42.4 billion in 2010. Nokia sold 19.6 million smartphones this quarter, down from 28.6 million YoY. For the entire year the figure was 77.3 million, down from 103.6 million from the year before.
