This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Nokia: Lumia Sales 'Exceed Expectations'

NEW YORK ( TheStreet) - Nokia (NOK - Get Report) reports that its Lumia line of smartphones is doing better than expected.

According to "preliminary information on certain aspects" of the company's fiscal fourth-quarter performance, Nokia estimates that its Devices & Services division has "exceeded expectations and achieved underlying profitability" in the last quarter.

It attributes this achievement to its mobile phone business unit and Lumia phone portfolio, in particular, which delivered better-than-expected results. Nokia adds that lower operating expenses helped the situation as well.

Officially, Nokia reported mobile phone net sales of approximately 2.5 billion Euros ($3.26 billion) which comes out to 79.6 million handsets. Of those phones, 9.3 million were Nokia's low-cost line of Asha models, not sold in the United States.

Lumia branded phones run on Microsoft's (MSFT - Get Report) Windows Phone operating system, while Asha phones use a simplified platform called Nokia OS, which is based on its previous Series 30 and Series 40 operating systems.

According to its latest numbers, Nokia estimates that its Devices & Services non-IFRS (International Financial Reporting Standards) operating margin for its fiscal fourth quarter was "between break even and positive 2 percent" which is much better than what had been projected for the same period - "negative 6 percent".

--Written by Gary Krakow in New York.

>To submit a news tip, send an email to: tips@thestreet.com.

Gary Krakow is TheStreet's senior technology correspondent.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
NOK $7.61 -0.13%
MSFT $42.90 3.10%
AAPL $127.60 2.28%
FB $83.09 2.87%
GOOG $535.38 2.16%

Markets

DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs