Nokia on comeback trail after good 2012 fourth quarter results

Nokia on comeback trail after good 2012 fourth quarter results

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Phone manufacturing giant Nokia could be on its way back to reclaiming its lost crown in the communication device race. Stephen Elop, who was formerly with Microsoft, has said on January 10, 2013 that the Finnish phone company posted high returns in the fourth quarter of 2012.

 

It was 2 years ago that Elop said the working environment at Nokia was hostile and was in a make-or-break situation. Now however, the chief executive of Nokia has said that their flagship smartphone Lumia has tipped the scales in their favor and it was quite possible the company may return a surprise profit.

Elop spearheaded the decision to do away with Nokia’s trademark Symbian platform and took a gamble with Microsoft, who was also struggling in the handheld device market at the time. The two heavyweights forged a partnership which resulted in the birth of the Windows Phone-based Nokia Lumia.

Francisco Jeronimo, who is an analyst with International Data Corp was of the opinion that the new Windows Phone platform is vastly different that the Symbian-based Nokia phones of the past and this is beneficial for the company.

A lot of Nokia’s success has to do with the way the company promoted the Lumia 920 and Lumia 820 in Europe and USA. Although not in the league of the iPhone 5 or the Galaxy SIII, the various models of the Lumia are still holding their own as Nokia makes a stealthy return in the mobile phone market.