Nokia returns to profits but kills dividend

01/23/2013 | Guardian (London), The · ZDNet · Wall Street Journal, The

After 18 months in the red, Nokia reported a profit in the holiday quarter, although its losses almost tripled for the year compared with 2011, the company said in a mixed report that saw the Finnish cellphone maker scrap its dividend. Nokia sold 6.6 million smartphones -- with the Lumia accounting for 4.4 million of them -- a slight uptick from the previous quarter but a 67% decline from a year ago. Revenues slipped by 20% from the 2011 quarter and fell just shy of analysts' estimates, but the average unit price soared by 33%.

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Guardian (London), The · ZDNet · Wall Street Journal, The

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