Nokia reports profit after six quarters of losses

Nokia investors have something to smile about this morning, as the company's Q4 2012 financial results reveal a return to operating profit for the first time since Q1 2011.
the company sold 4.4 million Lumias over the quarter, a more-than 50 percent jump from Q3's 2.9 million, and its best quarter since launching its Windows Phone line. The uptick in sales contributed to €8.04 billion in overall revenue for the quarter, which when balanced with Nokia's continued restructuring and other costs resulted in a €439 million profit.

Nokia CEO Stephen Elop had this to say about the quarterly results:

"We are very encouraged that our team’s execution against our business strategy has started to translate into financial results.
Most notably we are pleased that Nokia Group reached underlying operating profitability in the fourth quarter and for the full year 2012. While the first half of 2012 was difficult for Nokia Group, in Q4 2012 we strengthened our financial position, improved our underlying operating margin in Devices & Services, introduced the HERE brand to expand our mapping and location experiences, and drove record profitability in Nokia Siemens Networks.
We remain focused on moving through our transition, which includes continuing to improve our product competitiveness, accelerate the way we operate and manage our costs effectively.
All of these efforts are aimed at improving our financial performance and delivering more value to our shareholders."