Nokia shares rise due to Lumia smartphone sales

Nokia shares rise due to Lumia smartphone sales London: Shares in embattled mobile maker Nokia have risen sharply after the firm said mobile phone sales in the fourth quarter exceeded its own expectations.

Nokia said it sold 86.3 million devices in the last quarter, with revenues totalling 3.9 billion Euros.

The Finland-based firm said its mobile phone business had achieved underlying profitability, due to better-than-expected sales of its Lumia smartphone.

According to the BBC, Nokia shares closed up 11 percent in Helsinki and 18.7 percent higher in New York.
The firm sold 4.4 million Lumia smartphones in the fourth quarter, up from 2.9 million in the third quarter.

According to the report, it also sold 2.2 million Symbian smartphones and 9.3 million of its lower-priced Asha full-touch smartphones.

Nokia said it was also helped by lower-than-forecast operating expenses.

But the firm expects seasonality and a competitive environment to have a negative impact on the handset division''s profitability in the first quarter of 2013, the report said.

ANI