Nokia announces 65 per cent increase in fourth quarter financials
Stock jumps in response
It's not often these days that we get to report on massive income increases with the major mobile manufacturers, but Nokia is celebrating after the results of its fourth quarter financials were announced.
The Finnish giant reports a whopping 65 per cent increase to €948 million after an equally staggering €12 billion in sales. It's smartphone market share has also risen to 40 per cent, up 5 per cent on last year (and despite Apple having just proclaimed itself the world's largest mobile devices company).
Nokia is keeping its head amidst this success story, however, and predicting that its operating margin in Devices & Services will likely be at the lower end of its 12 to 14 per cent target in the first quarter of 2010.
Considering things looked a little bleak when flagship Nokia stores were closing down before Christmas, the news comes as quite a surprise.
It's stock jumped 9 per cent in response to the announcement, nonetheless.
