Net sales for the division, Nokia’s largest, are now expected to reach €3.9 billion ($5.1 billion) in the quarter. Total smartphone sales are now forecast at 15.9 million units, of which 4.4 million are the company’s Lumia smartphones running the Windows Phone operating system from Microsoft Corp. (NASDAQ: MSFT).
The company attributed the jump to “better than expected financial performance in the Mobile Phones business unit and Lumia smartphones.” Nokia also cited lower-than-expected operating expenses in the devices and services group due to better-than-expected cost reductions from its restructuring program.
Sales at its joint venture with Siemens A.G. (NYSE: SI), Nokia Siemens Networks, are also tabbed to come in higher than previously expected. Compared with a previous estimate for an operating margin of 8%, the company now expects operating margin of 13% to 15%.
For the first quarter of 2013, Nokia now expects devices and services margin of about -2%, plus or minus 4%. The company cited “competitive industry dynamics” (promotional pricing) and a traditionally weak quarter for sales as drags on quarterly results.
The stock is up 18.6% in premarket trading this morning at $4.45 in a 52-week range of $1.63 to $5.87.
There is a simple question to ask here: If Nokia can have results which are better than expected, or less bad, then can Research in Motion Ltd. (NASDAQ: RIMM) do the same? Anything is possible, and RIM shares are up about 3% at $11.84 in early trading.
UPDATE: Shares are up more than 21% shortly before the open, at nearly the average daily volume already.
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.