What a difference a year makes, or even a quarter, if you’re Nokia. The Finland-based mobile phone maker doubled its profit in Q4 2009 when compared with the same period a year earlier. The company reported its first increase in quarterly earnings in almost two years.
In Q3 2009, Nokia reported a loss of more than $1.3 billion, so this is a big step forward. The quarter before that, profits declined by 66 percent.
The company reported that smartphone sales – 127 million phones – and emerging markets success were the biggest reasons behind the good economic news. Nokia remains the world’s top mobile phone seller.
The company’s stock price was up more than 8 percent late in Thursday afternoon trading.