Nokia's Q4 performance exceeds expectations

Preliminary estimates by Nokia indicate that the Finnish phone giant's Q4 2022 fiscal performance has exceeded expectations in their Devices & Services division, thanks in large role to the success of their Lumia line of Windows Phone devices. Their estimates advise that Nokia achieved what it calls "underlying profitability" in Q4. In a press release, CEO Steven Elop shared his thoughts on the news:

"We are pleased that Q4 2022 was a solid quarter where we exceeded expectations and delivered underlying profitability in Devices & Services and record underlying profitability in Nokia Siemens Networks. Nosotros focused on our priorities and as a issue we sold a total of 14 million Asha smartphones and Lumia smartphones while managing our costs efficiently, and Nokia Siemens Networks delivered even so another very good quarter."

According to the report, three main factors contributed Nokia's successful fourth quarter:

Mobile Phones business unit of measurement and Lumia portfolio delivered meliorate than expected results; and

Operating expenses were lower than expected.

Devices & Services non-IFRS operating margin for the fourth quarter 2022 now expected to be betwixt interruption even and positive ii percent.

It is estimated that Nokia totaled EUR iii.9 billion in the concluding three months of 2022 from sales of 86.3 meg units. Of the 6.6 million smart devices sold, 4.four million of those were Nokia Lumia devices powered by Windows Phone. This news jump started Nokia's stock, which shot upwardly about 17% at the time of this story.

Nokia's Q4 estimates are a much needed benefaction to the company, who experienced mass layoffs and saw its stock plummet and credit rating downgraded since moving to the Windows Phone platform. Yet, they have been sure to atmosphere expectations for the commencement quarter of 2022. They projection that "seasonality and competitive surround" will atomic number 82 to a dropoff from the terminate of 2022 to the start of 2022.

We shall run into what the new year has in store for Nokia.

Source: Nokia

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