Submitted by Fox First at Ten on January 10th
HELSINKI (AP) - Nokia Corp. says fourth-quarter mobile phone sales exceeded its own expectations, sparking a sharp rise in the company's share price.
The struggling Finnish phone manufacturer says it sold a total 86.3 million devices in the last three months of 2012, including 4.4 million Lumia smart phones, while revenues amounted to some €3.9 billion.
But the company, which has seen its market share fall precipitously in recent years, adds that seasonality and competition will have a negative impact on the handset division's first-quarter profitability in comparison to the last three months of 2012.
Nokia's statement Thursday sent its share price soaring 16 percent to €3.50 on the Helsinki Stock Exchange.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
