After Two Years Nokia to Report About Profit

It was almost two years ago when Stephen Elop, then newly appointed as Nokia’s CEO, said that he inherited loads of problems as the Finnish company–which at the time was a leading global brand in cellphones until Apple introduced the iPhone–was on the verge of becoming irrelevant.

We have witnessed several radical changes in Nokia, first when it rejected its own Symbian mobile operating system in favor of Microsoft’s Windows Phone. The company reported huge losses and layoffs, even to the point of selling its global headquarters.

But it seems that Nokia is about to make a 180-degree turn. On Thursday, Elop delivered an unexpected good news: Nokia earned a profit. Based on preliminary financial information, sales of the company’s Windows Phone-powered smartphone line, the Lumia, soared over 50 percent in the last quarter of 2012.

While analysts expected a loss as much as 10 percent, Elop proved them wrong as Nokia would at least break profit or even turn a two-percent profit.

Even Wall Street reacted positively to the announcement, as Nokia’s stock prices are up by 18.67 percent to $ 4.45 a share.

Nokia will announce a full report about its earnings on January 24th.

Source: New York Times

Photo credit: Diane Bondareff/ Invision for Nokia, via Associated Press
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