Nokia no longer a rotting apple, reports profit in Q4 earnings report

Nokia has finally managed to turn things around. The visitor has reported a profit of €439 million ($585 million), with €8.04 billion ($10.7 billion) in revenue. These figures were possible through stronger Lumia sales, Nokia Siemens Network and company restructuring. We believe Stephen Elop is currently cruising around with a megaphone, ensuring anybody hears the news.

The number of Lumia Windows Phones sold besides saw an increase to 4.4 million, up from just 2.9 million in the previous quarter. We'd consider this every bit Nokia's almost successful quarter since the visitor partnered with Microsoft and began supporting Windows Phone. As well as turn a profit and sales, Nokia as well increased its cyberspace cash reserves from €three.56 billion ($iv.7 billion) to €four.36 billion ($five.8 billion).

While the bump in Lumia Windows Phone sales is a expert matter, nosotros cannot ignore the fact that this is not what'south driving the company forward into sustainability. Information technology'south Nokia Siemens Network, a joint venture by both parties, which is contributing heavily to Nokia's income. It brought in $334 million, while Nokia'southward Device business organization contributed $367 million - including everything from Lumia to Asha.

Nokia also has an increased average selling price (ASP) of its smartphones, up from €140 ($186) the previous yr to €186 ($248). This is due to the focus shift from low-cost Symbian hardware to premium Windows Phones - with some mid and low range devices to boot.

While Q4 proved to be a solid end of 2022 for Nokia, the company experienced issues throughout the yr. Thus, the company will not grant a dividend to shareholders as it continues to motility back into the black. Stephen Elop had the post-obit to the say about the quarterly results:

"We are very encouraged that our team'south execution against our business organization strategy has started to interpret into fiscal results. Nigh notably we are pleased that Nokia Group reached underlying operating profitability in the fourth quarter and for the full yr 2022.

While the first one-half of 2022 was difficult for Nokia Group, in Q4 2022 nosotros strengthened our financial position, improved our underlying operating margin in Devices & Services, introduced the Hither brand to expand our mapping and location experiences, and drove tape profitability in Nokia Siemens Networks.

Nosotros 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."

Outlook into 2022

So what does this year hold for Nokia? What'due south the company predicting for the showtime quarter? Nokia expects its Devices & Services division to go back into loss-making. This is predicted to be acquired past competitive industry dynamics and more, but the company is hoping for Nokia Siemens Networks to take the blow with a positive operating margin (though nosotros could well exist looking at softened accident as opposed to turning information technology around).

We'll expect to run across standing difficult periods for Nokia, particularly as Microsoft battles on to marketplace Windows Phone. BlackBerry x will be upon usa soon, which will provide more than pressure on Elop and the gang to transport Lumias and get consumers on-board. But we shouldn't remain down well-nigh prospects or the future. We cannot forget that Nokia has really reported profit.

Source: Nokia (PDF)

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