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Light at the end of the tunnel for Nokia?

January 11, 2013

Nokia shares gained as much as 18% (close €3.324, +10.8%), after the Finnish mobile-phone maker said its fourth-quarter results were better than expected and it achieved underlying profitability on recovering demand and cost cuts. Adjusted operating profit at its handset unit was at break-even level or as much as 2% of sales and in the first quarter, the unit will probably have a loss equivalent to 2% of sales, Nokia said.

The sold a total of 86.3 m devices with 6.6 m smartphones, of which 4.4 m were Lumia compared to 2.9 m in the previous quarter. Q4 net sales in devices and services were €3.9 bn ($5.09 bn).