FX.co ★ Nokia shares soar to 9-month high

During trading session on January 10 in Helsinki, shares of Finnish phone maker Nokia jumped 18% to 3.54 euros. According to Bloomberg, company’s stocks edged up to 9-month high.
Investors’ optimism was due to Nokia’s preliminary report on fourth-quarter financial performance. Nokia estimates that Devices&Services net sales in the fourth quarter were approximately 3.9 billion euros, with total device volumes of 86.3 million units of which 4.4 million units were Nokia Lumia. In comparison with the current data, the company sold 2.9 million Nokia Lumia units in the previous quarter.
Nokia also estimates that the company has exceeded expectations and achieved underlying profitability in October-December. That compares with company’s forecast for a loss of as much as 10% of sales by the end of 2012. Nokia will provide more details when it reports fourth quarter and full year 2012 results on January 24, 2013.