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Nokia hints at future profits after mobile phone arm sale in Q4 report

updated 07:58 am EST, Thu January 23, 2014

Nokia quarterly results omit sales figures for Lumia devices

Nokia has hinted at what its finances will be like in the future, in what is believed to be its last quarterly financial report before the company's mobile phone arm gets acquired by Microsoft. The company's Solutions and Networks, Here, and Advanced Technologies segments earned a profit of 408 million euro ($556 million) for the fourth quarter, an improvement when compared to the 344 million the sections earned in the third quarter.

The figures relating to the outgoing Devices and Services division were filed under Discontinued Operations, which Nokia lists with net sales of 2.63 billion euros ($3.59 billion) for the quarter, down from 3.7 billion year-on-year, with an operating loss of 198 million euro ($270 million) outweighing the 97 million euro ($132 million) operating profit in the same period the previous year.

Nokia
Nokia's headquarters


Oddly, the financial report fails to mention how many Lumia devices it sold in the period, something that could be considered a key part of Microsoft's $7.2 billion purchase. The company did disclose that in terms of the full year, it had a 29-percent drop of handset sales when compared to 2012, and though both mobile phones and smartphones did drop, the former dropped more. In the third quarter results, it boasted a total of 8.8 million Lumia device sales, with the fourth quarter sales likely to be around the 7-8 million range.

The remaining sections of the company appear to keep the company in profit, at least without taking into account the losses of the Devices and Services division. The remainder is said to earn approximately 500 million euros ($681 million) per year in patent revenues, something which will increase by 1.65 billion euro ($2.25 billion) under a 10-year deal with Microsoft once the sale completes. This will be added to by the extended patent licensing deal Nokia has made with Samsung, an agreement the financial report also confirms.



By Electronista Staff
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