Nokia returns to being a profitable business for the first time since Q1 2011 on Q4 2012 with operating profit reaching €439 million, an improvement from the €954m loss from the previous year.
However mobile device sales are down by -24% Y-o-Y-- from 113.5m to 86.3m units-- while "smart device" sales drop by -66% Y-o-Y to 6.6m units as the company continues its shift from high-volume/low-cost Symbian smartphones to Windows Phone.
This explains why the Nokia smart device average selling price (ASP) is up from €140 on Q4 2011 to €186 on Q4 2012.
“We are very encouraged that our team’s execution against our business strategy has started to translate into financial results. Most notably we are pleased that Nokia Group reached underlying operating profitability in the fourth quarter and for the full year 2012," CEO Stephen Elop says.
2012 was a hard year for Nokia, with operating loss reaching €2.3 billion. As a result, the company is not making dividend payments for the year, the first time the company hasn't done so since at least 1871.
