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Nokia: Q4 Not as Bad as Expected

Ray Le Maistre
1/10/2013
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Nokia Corp. sprung a surprise Thursday by saying its fourth-quarter financials aren't as bad as expected, with both its handset and network infrastructure businesses contributing sales and margins better than Nokia's forecasts.

The news gave its share price a near 14 percent lift on the Helsinki exchange to €3.45 (US$4.54).

You can see all the details in this extensive press release but the main points are:

  • Better than expected sales of mobile devices, including Lumia smartphones, resulted in fourth-quarter net sales of €3.9 billion (US$5.14 billion) and the possibility of a small adjusted operating profit (after one-time costs) for the Devices & Services division. Nokia had been expecting the division to report an adjusted operating loss. The company says it shipped 86.3 million devices, including 4.4 million Lumia smartphones.

  • Better than expected sales of high-margin products and lower costs helped Nokia Siemens Networks (NSN) hit fourth-quarter revenues of €4 billion ($5.27 billion) and achieve an adjusted operating margin (excluding one-time costs) of between 13 percent and 15 percent, compared with the 8 percent (plus or minus 4 percent) that had been forecast.

But the company also warned that the first quarter of 2013 is already looking tough for the business, so the fourth-quarter fillip is not the start of a trend of increasingly profitable quarters.

— Ray Le Maistre, International Managing Editor, Light Reading

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Michelle Donegan
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Michelle Donegan,
User Rank: Light Beer
1/10/2013 | 8:20:05 PM
re: Nokia: Q4 Not as Bad as Expected
To put Nokia's better-than-expected device numbers into some context ... Nokia announced today that device volumes for fourth quarter 2012 were 86.3 million. That's better than the 82.9 million devices it shipped in Q3 2012, but much worse than the 113.5 million devices it shipped a year ago in Q4 2011.-Š
And with Nokia already warning of a tough Q1 2013 that's seasonally weak as it continues to ramp up the Lumia devices, Nokia still has a long way to go in its turnaround efforts.
Michelle Donegan
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Michelle Donegan,
User Rank: Light Beer
1/10/2013 | 8:11:55 PM
re: Nokia: Q4 Not as Bad as Expected
Another surprise in Nokia's announcement was that the company is still selling Symbian smartphones. Nokia said its smartphone volumes in the fourth quarter included -Š2.2 million Symbian devices (half the amount of the 4.4 million Lumia devices it shipped in the quarter.)

And @ingridlunden at TechCrunch reports that Nokia said that Q4 2012 would be the "last meaningful quarter" for Symbian.-Š
http://techcrunch.com/2013/01/...

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