News by Andrew Kameka on Thursday January 10, 2013.
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Nokia CEO Stephen Elop selected Windows Phone as his company's weapon of choice in the smartphone wars, and recent sales may give the company a fighting chance. Nokia today announced better than expected sales for the fourth quarter of 2012, reporting an estimated EUR 1.2 billion (US $1.57 billion) in revenue from smart device sales.
Nokia sold 6.6 million smartphones in the fourth quarter of 2012, 2.2 million of which were handsets running its old Symbian software. The company reported 4.4 million Lumia sales worldwide, which exceeded expectations thanks to better than anticipated sales in some key markets. Though the sales of Nokia Lumia were not as high as the Apple iPhone or the cadre of Android smartphones released during the quarter, they were significantly higher than sales Nokia reported in the fourth quarter of 2011. Nokia more than quadrupled its 2011 performance that included only 1 million Lumia devices sold.
The first quarter of 2013 will not have as many signs of positivity, according to Nokia's outlook. Nokia anticipates that a traditionally weak selling season, increased competition, and global economic conditions will negatively impact sales. The company has much to do to once again become competitive in the global smartphone market, but a strong fourth quarter gave Nokia reason to be optimistic.
CEO Stephen Elop said:
"We are pleased that Q4 2012 was a solid quarter where we exceeded expectations and delivered underlying profitability in Devices & Services and record underlying profitability in Nokia Siemens Networks. We focused on our priorities and as a result we sold a total of 14 million Asha smartphones and Lumia smartphones while managing our costs efficiently, and Nokia Siemens Networks delivered yet another very good quarter."source: Nokia
Andrew is based in Miami, Florida.