Nokia generates $270 million Q4 profit

Struggling Nokia turns to Q4 net profit of $270 million as revenue slumps 20 percent

Associated Press

HELSINKI (AP) -- Nokia Corp. has reported a fourth-quarter net profit of €202 million ($270 million) compared to a net loss of more than $1 billion a year earlier but revenue in the period fell 20 percent to €8 billion from a year earlier.

The ailing Finnish company gave a poor outlook saying it expects operating margins in the first quarter 2013 to be "approximately negative 2 percent, plus or minus four percentage points," citing increased competition as it struggles against the dominance of market leaders Samsung and Apple Inc.'s iPhone.

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 3 percent at €3.62 in Helsinki.

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