Nokia is slowly starting to turn things around, as it announced a profitable quarter in Q4 to end 2012 on a high note.
The beleaguered phone giant made an operating profit of £369 million in the last quarter, compared to a £484 million loss in the previous three months.
The dramatic reversal was largely helped by 4.4 millon sales (to retail) of Lumia smartphones, up from 2.9 million in Q3, which, together with 2.2 million Symbian phones, meant Nokia shipped a total of 6.6 million smartphones in Q4.
Although this is substantially lower than the 19.6 million handsets it shifted in the same year-ago period, the increased profit and stronger performance of the Lumia range will no doubt boost morale at Espoo, which lost its crown as the one-time leading smartphone manufacturer in the world.
Of course, this is by no means a guarantee that Nokia is out of the woods just yet. It’s still got a mountain to climb to compete with the likes of Samsung and Apple, which made up for the lion share of last year’s 700 million global smartphone shipments, with a staggering 213 and 135.8 million units shipped respectively.
Nokia’s chances of climbing back up the ladder are no doubt being hindered by its reluctance to join Android, as it has an exclusivity agreement with Microsoft to make Windows Phone its primary mobile operating system for the foreseeable future.
Only time will tell if it can return to its former glory or sink into the depths as another dead mobile giant.