Nokia has had some tough times over the past few years and it seemed no matter what they did they could not gain ground on their rivals. Slumping sales and falling profits had pundits wondering how much longer the Finnish manufacturer would be around, but now there seems to finally be a bit of good news for Nokia.
The Q4 profit reports show a healthy profit and an increase in smartphone sales and revenue of €8.04 billion. The profit of €439 million has been attributed mainly to the Siemens Network division rather than the phone sales but with this last quarter being better than Nokia has had for a while maybe things are finally looking up.
Overall the company lost $3 billion in the full fiscal year however they will be pinning hopes on the slow burning success of their Lumia handsets to give them some better results this year.
Nokia may have put all its eggs in one basket with Windows Phone but they are sticking to their guns and the Lumia brand has sold an impressive 4.4 million smartphones (OK not impressive compared to its rivals but good for Nokia).
That partnership with Microsoft also got them a $250 million payment for using the Windows Phone system and the patent portfolio deliver revenue too.
Nokia will not be paying its dividend to investors this year, a first for over 20 years, which should help them improve their situation and could be a way to help them though Q1 of this year which is typically a much slower sales period after the Christmas rush.
So is Nokia finally out through the other side of their dark times? It will be interesting to see how they fare through this year, but they really need to pull something special out of the bag to get people excited about their smartphones.