Nokia reports return to profit

Updated: 23:16, Thursday January 24, 2013

Nokia reports return to profit

Nokia Corp has reported a fourth-quarter net profit of $US270 million after a net loss of more than $US1 billion a year earlier, but revenue in the period fell 20 per cent.

The ailing Finnish company gave a poor outlook saying it expected operating margins in the first quarter 2013 to be “approximately negative two per cent, plus or minus four percentage points,” citing increased competition as it struggles against the dominance of market leaders Samsung and Apple.

Nokia said it sold 15.9 million smartphones in the quarter, down from 19.6 million a year earlier.

The company’s share price was up some three per cent in Helsinki.

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