Nokia on Thursday reported earnings for the fourth quarter of 2011, revealing its third straight quarterly loss but beating analyst estimates. The company saw revenue slide 21% year-over-year to €10 billion, and profit dropped from €884 million in the fourth quarter 2010 to a €954 million operating loss last quarter. Smartphone revenue dipped 38% compared to the same quarter in 2010 to €2.75 billion, and mobile phone sales were off 23% to €3.04 billion. Nokia shipped 113.5 million feature phones, down 8%, and 19.6 million smartphones, down 31% from the same quarter a year earlier. The company said it has shipped “well over” 1 million Windows Phone-powered Lumia smartphones to date. “Overall, we are pleased with the performance of our mobile phones business, which benefited in Q4 from sequential double-digit percentage growth in our dual SIM business, with particular strength in India, Middle East and Africa and South East Asia,” Nokia CEO Stephen Elop said in a statement. “In October, we introduced the Asha 200, 201, 300 and 303, which brought new mobile phones into 76 markets around the world. We are building on this foundation with R&D investments as we continue our journey to connect the next billion to the Internet.”

Read

View Comments