Nokia’s Back! Latest Figures Show That They Made A Profit!

| January 24, 2013 | Reply

Nokia, the Finnish manufacturer of mobile phones has just reported a €439m against loss of nearly €1bn a year ago. That’s a massive turnaround in fortunes and it’s probably down to them entering the highly profitable, high volume smartphone niche.

nokia is back in profit

Photo provided by John.Karakatsanis – flickr.com

You could argue that they should have done this a long time ago, but hey, no one’s perfect.

This return to profit ends a 18 month spell where they could do no right. In fact, these were 18 months of straight losses. So, this turnaround is a welcomed change!

Industry insiders have long known that mobile phone manufacturers needed to get into the smartphone market since that’s where the future lies. Any manufacturer not changing their strategy and concentrating all of the efforts in this niche were doomed to fail. Nokia have entered the market with their new range Lumia series of phones just in time.

I believe they had a major round of cost cutting (which included jobs) which always helps the bottom line unfortunately. Sometimes you have to take the pain so you can take the business forward.

What has helped their fortunes is the fact that they dropped their in-house software Symbian and adopted Microsoft’s Windows Phone OS. This allowed them to concentrate on the overall design and specifications for their Lumia range.

Check out our latest Nokia Lumia 820 Review!

 

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Category: News, Nokia

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